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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating for the company. Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price on the stock. in a report on Monday, June 23rd. Wedbush set a $75.00 price target on shares of Oklo and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Three investment 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.50.

Oklo Stock Performance

The stock has a market capitalization of $7.76 billion, a PE ratio of -10.27 and a beta of 0.57. The business's 50-day moving average is $48.07 and its two-hundred day moving average is $36.27.

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, beating the consensus estimate of ($0.11) by $0.04. Equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Monday, June 30th. The stock was 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 $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently made changes to their positions in OKLO. Exchange Traded Concepts LLC grew its stake in shares of Oklo by 35.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 198,805 shares of the company's stock worth $11,131,000 after purchasing an additional 51,970 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Oklo by 126.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,569 shares of the company's stock worth $1,427,000 after buying an additional 14,831 shares during the period. High Net Worth Advisory Group LLC purchased a new position in Oklo in the second quarter valued at about $218,000. Sunpointe LLC purchased a new stake in shares of Oklo during the 2nd quarter worth approximately $252,000. Finally, Westbourne Investments Inc. acquired a new position in Oklo during the second quarter worth $347,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.