Oklo (NYSE:OKLO) Shares Down 6.4% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 6.4% on Wednesday . The company traded as low as $45.05 and last traded at $46.57. 10,369,675 shares traded hands during trading, a decline of 41% from the average session volume of 17,433,031 shares. The stock had previously closed at $49.77.

Wall Street Analysts Forecast Growth

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

Oklo Stock Performance

The company has a 50 day moving average of $30.82 and a 200-day moving average of $30.06. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of -8.72 and a beta of -0.02.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. On average, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new position in shares of Oklo in the 1st quarter valued at about $65,000. Intrua Financial LLC increased its holdings in shares of Oklo by 4.2% in the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after acquiring an additional 535 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Oklo by 24.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock valued at $800,000 after acquiring an additional 7,352 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Oklo in the 1st quarter valued at about $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Oklo by 90.9% in the 1st 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 acquiring an additional 53,703 shares during the last quarter. Hedge funds and other institutional investors 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.