Oklo (NYSE:OKLO) Shares Down 4.4% - What's Next?

Oklo Inc. (NYSE:OKLO) saw its stock price decrease by 4.4% on Tuesday, reaching a low of $50.66 before closing at $51.36. A total of 6,257,545 shares exchanged hands during the day, which is a significant drop of 72% compared to the average trading volume of 22,190,885 shares. The previous closing price was $53.73.

Analyst Ratings Changes

• Oklo’s Fuel Partnership Strengthens Bullish Case for Stock

Recent commentary from analysts has been mixed. Citigroup raised their price target for Oklo from $10.00 to $31.00, maintaining a "neutral" rating. B. Riley was more optimistic, increasing their target from $27.00 to $58.00 and issuing a "buy" recommendation. Craig Hallum recently began coverage of Oklo with a "buy" rating and a target price of $44.00. Additionally, Wedbush raised their target from $26.00 to $45.00 while assigning an "outperform" rating. Currently, two analysts recommend holding the stock, while three suggest buying, leading to an average consensus rating of "Moderate Buy" with a price target of $44.50 according to MarketBeat.com.

Oklo Stock Performance

• AI Demand Sparks Opportunities for These 3 Nuclear Energy Leaders

Oklo’s 50-day simple moving average stands at $29.69, while the two-hundred-day moving average is $18.90, indicating a significant upward trend over the long term.

Insider Activity

In other developments, CEO Jacob Dewitte sold 230,569 shares on December 20th, fetching an average price of $21.61. This sale amounted to over $4.9 million, reducing his ownership stake by 1.81%. After the transaction, Dewitte still retains 12,543,085 shares valued at approximately $271 million. Additionally, Director Richard Kinzley purchased 5,000 shares at an average price of $19.95, totaling $99,750. This acquisition has boosted his ownership by 100%. Insiders currently own about 21.80% of Oklo's stock.

Hedge Funds Weigh In On Oklo

• Is It Time to Buy Nuclear Energy Stocks After the Latest Dip?

Recent activity from institutional investors has been notable, as several hedge funds bought shares of Oklo. DRW Securities LLC acquired a new stake worth approximately $404,000, while Zurcher Kantonalbank Zurich bought in for about $135,000. Other significant acquisitions include $104,000 from UBS AM and $6.5 million from Portland Investment Counsel Inc. Overall, institutional and hedge fund ownership in Oklo comprises 85.03%.

Oklo Company Profile

Oklo Inc. focuses on designing and developing fission power plants to deliver reliable energy to clients across the United States. They also provide services for recycling used nuclear fuel. The company was founded in 2013 and operates from Santa Clara, California.

Conclusion

Investors may want to keep an eye on Oklo's stock performance in the coming days as analysts provide mixed signals and insider trading activity raises questions. With a strong institutional ownership presence, how Oklo navigates market volatility will be critical for its future stock performance.

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