Oklo (NYSE:OKLO) Stock Price Down 2.4% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 2.4% on Wednesday . The stock traded as low as $51.52 and last traded at $52.25. 5,376,375 shares were traded 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.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent analyst reports. William Blair started coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating for the company. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and boosted their target price for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. BTIG Research assumed coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush set a $75.00 price objective on shares of Oklo and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, HC Wainwright initiated coverage on shares of Oklo in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective for the company. Three 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.50.

Oklo Price Performance

The firm has a fifty day moving average of $48.65 and a two-hundred day moving average of $36.50. The stock has a market capitalization of $7.82 billion, a P/E ratio of -10.36 and a beta of 0.57.

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

Insider Activity at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total value of $9,411,000.00. Following the sale, the director directly owned 250,000 shares in the company, valued at approximately $15,685,000. The trade was a 37.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. acquired a new stake in Oklo in the second quarter valued at approximately $25,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo during the 4th quarter valued at $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo in the 4th quarter worth $32,000. CoreCap Advisors LLC purchased a new position in Oklo during the 4th quarter worth $32,000. Finally, Covestor Ltd acquired a new position in Oklo during the 4th quarter valued at about $34,000. 85.03% of the stock is currently owned by 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.