Oklo (NYSE:OKLO) Shares Down 2.2% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded down 2.2% during trading on Friday . The company traded as low as $65.56 and last traded at $65.67. 6,203,690 shares traded hands during trading, a decline of 65% from the average session volume of 17,939,676 shares. The stock had previously closed at $67.17.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKLO. William Blair assumed coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Cantor Fitzgerald set a $73.00 target price on Oklo and gave the stock an "overweight" rating in a report on Tuesday. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, BTIG Research started coverage on Oklo in a research report on Friday, April 11th. They issued a "neutral" rating on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.25.

Oklo Stock Down 1.4%

The company has a market cap of $9.24 billion, a P/E ratio of -12.18 and a beta of 0.57. The firm has a fifty day moving average price of $52.19 and a 200 day moving average price of $37.84.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. On average, sell-side analysts anticipate 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 company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the transaction, the director owned 200,000 shares of the company's stock, valued at $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $16,560,000.00. Following the completion of the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock worth $35,066,500 over the last three months. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Vanguard Group Inc. grew its position in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after buying an additional 2,090,154 shares during the period. Raymond James Financial Inc. acquired a new stake in Oklo during the 4th quarter worth $2,209,000. Alliancebernstein L.P. acquired a new stake in Oklo during the 4th quarter worth $1,693,000. LPL Financial LLC bought a new stake in shares of Oklo during the 4th quarter valued at $2,762,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Oklo in the 1st quarter valued at $229,000. 85.03% of the stock is owned by 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.

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