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

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 1.4% during 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.

Analyst Ratings Changes

Several analysts have recently weighed in on OKLO shares. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price for the company. in a research report on Monday, June 23rd. HC Wainwright started coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Finally, Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Oklo Stock Performance

The company's fifty day simple moving average is $48.07 and its 200-day simple moving average is $36.27. The company has a market capitalization of $7.76 billion, a P/E ratio of -10.27 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the 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 completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,000 shares of company stock valued at $35,066,500. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Oklo during the 4th quarter worth approximately $2,209,000. Steward Partners Investment Advisory LLC raised its position in Oklo by 2,386.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company's stock worth $198,000 after buying an additional 8,950 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Oklo during the 4th quarter worth approximately $1,693,000. Finally, LPL Financial LLC acquired a new stake in shares of Oklo during the 4th quarter worth approximately $2,762,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.