Oklo (NYSE:OKLO) Trading Down 1.2% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price was down 1.2% on Thursday . The company traded as low as $48.01 and last traded at $48.51. Approximately 3,914,868 shares traded hands during trading, a decline of 70% from the average daily volume of 13,002,005 shares. The stock had previously closed at $49.09.

Analyst Ratings Changes

Several brokerages recently commented on OKLO. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. BTIG Research initiated coverage on shares of Oklo in a research note on Friday, April 11th. They set a "neutral" rating for the company. Citigroup reiterated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Finally, Wedbush boosted their price target on Oklo from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.67.

Oklo Stock Up 6.7%

The company has a market cap of $7.00 billion, a PE ratio of -9.30 and a beta of 0.58. The firm's 50-day moving average is $31.89 and its 200-day moving average is $30.44.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 41,000 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the sale, the chief executive officer now owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John M. Jansen acquired 6,000 shares of the business's stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now owns 6,000 shares of the company's stock, valued at approximately $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new position in Oklo during the 4th quarter valued at approximately $27,000. Sandy Spring Bank bought a new position in shares of Oklo during the fourth quarter valued at $32,000. CoreCap Advisors LLC purchased a new position in shares of Oklo in the 4th quarter worth about $32,000. Covestor Ltd purchased a new position in shares of Oklo in the 4th quarter worth about $34,000. Finally, KBC Group NV bought a new position in Oklo in the 1st quarter worth about $36,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

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.