Oklo (NYSE:OKLO) Stock Price Down 4.4% - What's Next?

Key Points

• Oklo Inc. shares fell 4.4% to $72.15 with a trading volume decline of 65% compared to the average daily volume.
• Equity research analysts have varying ratings for Oklo, with targets ranging from $30 to $75 and a consensus rating of "Moderate Buy."
• CEO Jacob Dewitte sold 300,000 shares on June 30th, representing a 2.88% decrease in his holdings, while insiders sold a total of 600,000 shares over the past ninety days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded down 4.4% during mid-day trading on Tuesday . The company traded as low as $72.60 and last traded at $72.15. 6,280,450 shares traded hands during trading, a decline of 65% from the average session volume of 18,184,211 shares. The stock had previously closed at $75.50.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush set a $75.00 price target on shares of Oklo and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Craig Hallum lowered shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a research note on Monday, June 23rd. HC Wainwright assumed coverage on shares of Oklo in a research note on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price target on the stock. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. Finally, BNP Paribas Exane started coverage on shares of Oklo in a research note on Friday, July 25th. They set an "underperform" rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Stock Performance

The stock's fifty day moving average is $59.28 and its two-hundred day moving average is $40.99. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of -13.60 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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. Sell-side analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo 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 sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of Oklo stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the sale, the director owned 250,000 shares in the company, valued at approximately $15,685,000. This represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 600,000 shares of company stock worth $35,066,500. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the stock. Private Trust Co. NA acquired a new position in shares of Oklo in the 2nd quarter worth approximately $25,000. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo in the 2nd quarter worth approximately $25,000. ORG Partners LLC grew its stake in shares of Oklo by 281.0% in the 2nd quarter. ORG Partners LLC now owns 800 shares of the company's stock worth $41,000 after purchasing an additional 590 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of Oklo by 7,190.9% in the 2nd quarter. FNY Investment Advisers LLC now owns 802 shares of the company's stock worth $44,000 after purchasing an additional 791 shares during the last quarter. Finally, Solstein Capital LLC acquired a new position in shares of Oklo in the 2nd quarter worth approximately $56,000. 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.