Oklo (NYSE:OKLO) Stock Price Down 2.4% - Should You Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was down 2.4% during trading on Monday . The stock traded as low as $55.72 and last traded at $56.56. Approximately 6,287,868 shares traded hands during trading, a decline of 55% from the average daily volume of 13,979,922 shares. The stock had previously closed at $57.95.

Analysts Set New Price Targets

A number of brokerages have commented on OKLO. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a report on Monday. Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They set a "neutral" rating for the company. Finally, CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their target price for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus target price of $58.50.

Oklo Price Performance

The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -10.02 and a beta of 0.57. The business's 50-day simple moving average is $39.76 and its two-hundred day simple moving average is $33.29.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data 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. As a group, sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In other news, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 35,365 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares of the company's stock, valued at $277,494,059.15. The trade was a 0.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its holdings in Oklo by 115.9% in the fourth quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company's stock worth $565,000 after buying an additional 14,272 shares during the last quarter. Truist Financial Corp bought a new stake in Oklo during the fourth quarter worth approximately $227,000. Private Advisor Group LLC bought a new stake in Oklo during the fourth quarter worth approximately $2,839,000. ARK Investment Management LLC bought a new stake in Oklo during the fourth quarter worth approximately $9,645,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in Oklo during the fourth quarter worth approximately $1,208,000. 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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