Oklo (NYSE:OKLO) Stock Price Down 2.3% - Should You Sell?

Key Points

• Oklo Inc. shares fell by 2.3% during Tuesday's trading, with approximately 4.48 million shares traded, significantly lower than its average daily volume of 17.85 million shares.
• Analysts have a consensus rating of "Moderate Buy" for Oklo, with two Strong Buy ratings and a target price of $66.45.
• Recent insider trading includes a 150,000 share sale by Director Michael Stuart Klein, indicating a 37.5% decrease in his ownership of the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was down 2.3% during trading on Tuesday . The stock traded as low as $68.77 and last traded at $71.98. Approximately 4,478,796 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 17,849,756 shares. The stock had previously closed at $73.64.

Analyst Upgrades and Downgrades

OKLO has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wedbush lifted their price target on shares of Oklo from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. BNP Paribas Exane assumed coverage on shares of Oklo in a research note on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective for the company. Cantor Fitzgerald set a $73.00 price objective on Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, BTIG Research reissued a "neutral" rating on shares of Oklo in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.45.

Oklo Stock Performance

The business has a 50-day simple moving average of $68.02 and a two-hundred day simple moving average of $46.65. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of -165.83 and a beta of 0.59.

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

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $55.20, for a total value 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 $557,801,409.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's 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 completion of the sale, the director owned 200,000 shares of the company's stock, valued at $10,970,000. This trade represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock worth $35,066,500 in the last ninety days. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. OneDigital Investment Advisors LLC acquired a new stake in shares of Oklo during the first quarter worth $229,000. Cambridge Investment Research Advisors Inc. lifted its position in Oklo by 66.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company's stock worth $1,483,000 after buying an additional 27,458 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Oklo in the 1st quarter worth about $413,000. Spire Wealth Management grew its holdings 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 period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Oklo in the 1st quarter valued at about $254,000. 85.03% of the stock is owned by hedge funds and other 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.