Oklo (NYSE:OKLO) Shares Down 14.1% - Time to Sell?

Key Points

• Oklo Inc. shares fell 14.1% during trading, reaching a low of $114.00, with a significant increase in trading volume of 80% over average daily figures.
• Analysts have mixed ratings on Oklo, with one "Strong Buy" and numerous ratings ranging from "Buy" to "Strong Sell," leading to an average rating of "Hold" and a consensus price target of $98.14.
• Insiders sold a significant amount of shares recently, including a director who sold 50,000 shares for $6.7 million, raising concerns about insider confidence in the company's future.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were down 14.1% during trading on Wednesday . The stock traded as low as $114.00 and last traded at $119.82. Approximately 34,118,000 shares traded hands during trading, an increase of 80% from the average daily volume of 18,909,752 shares. The stock had previously closed at $139.44.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OKLO shares. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Bank of America reiterated a "neutral" rating and issued a $117.00 price target (up previously from $92.00) on shares of Oklo in a report on Tuesday, September 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of Oklo in a report on Wednesday, October 8th. BTIG Research reiterated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Finally, Zacks Research cut Oklo from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Oklo presently has an average rating of "Hold" and a consensus price target of $98.14.

Oklo Stock Down 14.1%

The stock has a market cap of $17.69 billion, a P/E ratio of -285.29 and a beta of 0.69. The stock has a fifty day simple moving average of $105.44 and a 200-day simple moving average of $68.22.

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

Insiders Place Their Bets

In other news, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the sale, the director owned 150,000 shares of the company's stock, valued at $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. The disclosure for this sale can be found here. In the last three months, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in Oklo in the 1st quarter valued at approximately $229,000. Bouvel Investment Partners LLC acquired a new stake in Oklo in the 2nd quarter valued at approximately $2,263,000. Cambridge Investment Research Advisors Inc. raised its position in Oklo by 66.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company's stock valued at $1,483,000 after buying an additional 27,458 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Oklo in the 1st quarter valued at approximately $413,000. Finally, Spire Wealth Management raised its position in Oklo by 14.1% in the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after buying an additional 481 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

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.

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