Oklo (NYSE:OKLO) Stock Price Down 3.7% - Should You Sell?

Key Points

• Oklo Inc. stock price decreased by 3.7%, trading as low as $66.20 with a final price of $67.05.
• Multiple analysts have offered ratings on Oklo, with Citigroup raising their price target to $68.00 while HC Wainwright set a target of $90.00 and issued a "buy" rating.
• Insider trading activity includes significant sales by director Michael Stuart Klein and CEO Jacob Dewitte, indicating notable fluctuations in insider holdings.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 3.7% during trading on Friday . The stock traded as low as $66.20 and last traded at $67.05. 5,050,012 shares changed hands during trading, a decline of 71% from the average session volume of 17,718,494 shares. The stock had previously closed at $69.61.

Analyst Upgrades and Downgrades

Several brokerages have commented on OKLO. HC Wainwright raised their target price on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. UBS Group began coverage on shares of Oklo in a report on Wednesday, August 20th. They set a "neutral" rating and a $65.00 target price on the stock. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Bank of America began coverage on shares of Oklo in a report on Tuesday, August 26th. They issued a "buy" rating and a $92.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus target price of $66.45.

Oklo Stock Down 0.0%

The stock's fifty day moving average is $68.31 and its two-hundred day moving average is $46.80. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of -165.67 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of the firm's 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 completion of the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the sale, the director directly owned 250,000 shares of the company's stock, valued at $15,685,000. This represents a 37.50% 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 valued at $35,066,500. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. purchased a new stake in Oklo in the 2nd quarter worth about $25,000. Private Trust Co. NA purchased a new position in shares of Oklo during the second quarter worth about $25,000. Fourth Dimension Wealth LLC grew its holdings in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Oklo during the second quarter worth about $28,000. Finally, CoreCap Advisors LLC purchased a new position in shares of Oklo during the fourth quarter worth about $32,000. Hedge funds and other institutional investors 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.