Oklo (NYSE:OKLO) Shares Down 1.3% - Should You Sell?

Key Points

• The shares of Oklo Inc. (NYSE:OKLO) fell 1.3% to last trade at $171.86, with a notable trading volume increase of 79% compared to the average session.
• Several analysts have downgraded Oklo, with Craig Hallum reducing the rating from "buy" to "hold" and setting a price objective of $59.00, while Goldman Sachs initiated coverage with a "neutral" rating at $117.00.
• In recent insider transactions, CEO Jacob Dewitte sold 300,000 shares for about $33.68 million, reducing his ownership stake by 2.98%.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares fell 1.3% during trading on Wednesday . The company traded as low as $164.00 and last traded at $171.86. 33,730,652 shares traded hands during trading, an increase of 79% from the average session volume of 18,792,326 shares. The stock had previously closed at $174.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OKLO. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research note on Monday, June 23rd. BNP Paribas Exane began coverage on Oklo in a research note on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. Bank of America reiterated a "neutral" rating and set a $117.00 price objective (up previously from $92.00) on shares of Oklo in a research note on Tuesday, September 30th. Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a research note on Sunday, July 27th. Finally, The Goldman Sachs Group began coverage on Oklo in a research note on Thursday, September 25th. They issued a "neutral" rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $98.14.

Oklo Stock Performance

The company has a 50 day moving average of $97.31 and a two-hundred day moving average of $63.46. The stock has a market cap of $25.37 billion, a PE ratio of -409.18 and a beta of 0.69.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares of the company's stock, valued at $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,387 shares of company stock worth $52,698,580 over the last three months. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in the company. Spirit of America Management Corp NY grew its position in shares of Oklo by 46.9% in the third quarter. Spirit of America Management Corp NY now owns 40,850 shares of the company's stock valued at $4,560,000 after purchasing an additional 13,050 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Oklo in the third quarter valued at approximately $308,000. Brookstone Capital Management purchased a new stake in shares of Oklo in the third quarter valued at approximately $432,000. Petredis Investment Advisors LLC purchased a new stake in shares of Oklo in the third quarter valued at approximately $394,000. Finally, Plancorp LLC grew its position in shares of Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company's stock valued at $680,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

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.

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