Oklo (NYSE:OKLO) Trading Down 1.4% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 1.4% during mid-day trading on Monday . The stock traded as low as $51.88 and last traded at $52.99. Approximately 4,438,522 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 14,490,436 shares. The stock had previously closed at $53.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OKLO shares. BTIG Research assumed coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating for the company. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research note on Monday, June 23rd. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Citigroup restated a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, William Blair started coverage on shares of Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Oklo currently has an average rating of "Moderate Buy" and an average target price of $58.50.

Oklo Trading Down 1.6%

The stock has a market capitalization of $7.41 billion, a PE ratio of -9.81 and a beta of 0.57. The stock has a 50 day moving average price of $48.07 and a 200-day moving average price of $36.27.

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

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the sale, the director owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 in the last quarter. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several large investors have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. bought a new stake in Oklo in the fourth quarter valued at approximately $27,000. Sandy Spring Bank bought a new position in shares of Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC bought a new position in shares of Oklo in the fourth quarter worth approximately $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 shares of Oklo during the 1st quarter valued at approximately $36,000. 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.