Oklo (NYSE:OKLO) Shares Down 7.7% Following Insider Selling

Oklo Inc. (NYSE:OKLO)’s stock price traded down 7.7% on Monday after an insider sold shares in the company. The company traded as low as $19.41 and last traded at $19.87. 6,770,159 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 6,199,825 shares. The stock had previously closed at $21.52.

Specifically, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Seaport Res Ptn upgraded Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley started coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price on the stock. Citigroup decreased their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Finally, Wedbush began coverage on shares of Oklo in a research report on Thursday, December 19th. They issued an “outperform” rating and a $26.00 target price for the company.

Oklo Price Performance

The stock has a 50 day simple moving average of $21.21 and a two-hundred day simple moving average of $12.73.

Hedge Funds Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC acquired a new stake in Oklo in the third quarter valued at $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Oklo in the 3rd quarter valued at about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo during the third quarter worth approximately $104,000. Portland Investment Counsel Inc. bought a new stake in Oklo in the third quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new stake in shares of Oklo in the third quarter valued at approximately $657,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.