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

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 2.4% on Wednesday . The stock traded as low as $51.52 and last traded at $52.25. Approximately 5,376,375 shares changed hands during trading, a decline of 63% from the average daily volume of 14,528,678 shares. The stock had previously closed at $53.52.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several recent research reports. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research report on Monday, June 23rd. HC Wainwright initiated coverage on Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective for the company. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Citigroup reissued a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, BTIG Research began coverage on Oklo in a research report on Friday, April 11th. They set a "neutral" rating for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.50.

Oklo Stock Up 0.8%

The stock has a 50 day moving average price of $47.46 and a two-hundred day moving average price of $36.14. The company has a market cap of $7.53 billion, a P/E ratio of -9.98 and a beta of 0.57.

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

Insider Buying and Selling at Oklo

In related news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the sale, the director owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly 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. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in Oklo during the 4th quarter worth about $27,000. Sandy Spring Bank acquired a new position in Oklo during the 4th quarter worth about $32,000. CoreCap Advisors LLC acquired a new position in Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter worth about $34,000. Finally, KBC Group NV acquired a new position in Oklo during the 1st quarter worth 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.

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