Oklo (NYSE:OKLO) Stock Price Down 1% - Time to Sell?

Key Points

• Oklo Inc. (NYSE:OKLO) experienced a 1% decline in stock price on Monday, closing at $74.71 after trading as low as $72.28, with a significant drop in trading volume.
• Analysts have mixed ratings on Oklo's stock, with Citigroup raising the target price from $30.00 to $68.00 while maintaining a "neutral" rating; the average target price currently stands at $59.33.
• Insider trading activity includes significant stock sales by both Director Michael Stuart Klein and CEO Jacob Dewitte, indicating a decrease in ownership, with insiders having sold a total of 600,000 shares valued at $35 million over the last three months.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price was down 1% during trading on Monday . The company traded as low as $72.28 and last traded at $74.71. Approximately 8,405,824 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 18,196,873 shares. The stock had previously closed at $75.50.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OKLO shares. Daiwa America raised shares of Oklo to a "hold" rating in a research report on Friday, July 11th. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday. Citigroup raised their target price on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. BTIG Research initiated coverage on shares of Oklo in a research note on Friday, April 11th. They issued a "neutral" rating for the company. Finally, Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $59.33.

Oklo Price Performance

The business's 50-day moving average price is $56.39 and its 200 day moving average price is $39.81. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of -14.09 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the transaction, the director owned 200,000 shares in the company, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 600,000 shares of company stock valued at $35,066,500 over the last three months. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock worth $104,646,000 after buying an additional 74,315 shares during the period. Vanguard Group Inc. lifted its stake in Oklo by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after acquiring an additional 37,718 shares in the last quarter. Compound Planning Inc. lifted its stake in Oklo by 6.2% in the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after acquiring an additional 56,437 shares in the last quarter. Portland Investment Counsel Inc. lifted its stake in Oklo by 0.6% in the 1st quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after acquiring an additional 5,000 shares in the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in Oklo in the 4th quarter valued at approximately $14,798,000. 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.

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