Oklo (NYSE:OKLO) Trading Down 4.5% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded down 4.5% during mid-day trading on Tuesday . The company traded as low as $50.02 and last traded at $50.08. 19,798,797 shares changed hands during trading, an increase of 54% from the average session volume of 12,896,404 shares. The stock had previously closed at $52.44.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BTIG Research started coverage on Oklo in a research note on Friday, April 11th. They set a "neutral" rating on the stock. Wedbush boosted their target price on Oklo from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and boosted their target price for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. HC Wainwright started coverage on Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 target price on the stock. Finally, William Blair initiated coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.67.

Oklo Stock Performance

The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -9.09 and a beta of -0.02. The firm has a fifty day moving average price of $30.82 and a 200-day moving average price of $30.06.

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

Insider Activity at Oklo

In other Oklo news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the firm's stock in a transaction that occurred on Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares in the company, valued at $249,253,026.88. This trade represents a 1.27% decrease in their ownership of the stock. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at approximately $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers acquired a new stake in shares of Oklo during the first quarter valued at about $65,000. Intrua Financial LLC boosted its stake in shares of Oklo by 4.2% during the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after purchasing an additional 535 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Oklo by 24.8% during the first quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock valued at $800,000 after purchasing an additional 7,352 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Oklo during the first quarter valued at about $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Oklo by 90.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after purchasing an additional 53,703 shares in the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

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.