Oklo (NYSE:OKLO) Stock Price Down 4.7% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 4.7% during mid-day trading on Wednesday . The stock traded as low as $22.52 and last traded at $23.29. 2,566,615 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 15,757,256 shares. The stock had previously closed at $24.44.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BTIG Research assumed coverage on Oklo in a report on Friday, April 11th. They set a "neutral" rating on the stock. Citigroup decreased their price target on Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Wedbush reiterated an "outperform" rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Craig Hallum started coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

Oklo Stock Performance

The stock has a market cap of $3.72 billion, a P/E ratio of -2.65 and a beta of -0.01. The company has a 50-day simple moving average of $25.22 and a 200-day simple moving average of $26.95.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $21.80, for a total value of $893,800.00. Following the transaction, the chief executive officer now owns 10,852,926 shares in the company, valued at $236,593,786.80. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John M. Jansen acquired 6,000 shares of the company's stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the fourth quarter worth $27,000. CoreCap Advisors LLC bought a new position in Oklo during the fourth quarter worth about $32,000. Sandy Spring Bank acquired a new position in shares of Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in shares of Oklo during the 4th quarter worth about $34,000. Finally, KBC Group NV bought a new stake in shares of Oklo in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Company Profile

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.