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

Key Points

• Oklo Inc. stock decreased by 3.7%, closing at $70.94, with a significant decline in trading volume to 5.4 million shares from an average of 18.2 million.
• Analysts generally have a positive outlook on Oklo, with a majority rating it as a Moderate Buy and a revised average price target of $63.78.
• Recent insider trading activity included sales by both the director and CEO, with a total of 600,000 shares sold worth over $35 million in the last ninety days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 3.7% during trading on Friday . The company traded as low as $68.77 and last traded at $70.94. Approximately 5,447,638 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 18,182,359 shares. The stock had previously closed at $73.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. BNP Paribas Exane began coverage on shares of Oklo in a research note on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Wedbush lifted their target price on shares of Oklo from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.78.

Oklo Price Performance

The stock has a 50-day moving average price of $65.43 and a 200 day moving average price of $44.90. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of -155.43 and a beta of 0.60.

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

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the company'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 transaction of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director owned 200,000 shares of the company's stock, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 600,000 shares of company stock worth $35,066,500 over the last quarter. Company insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in OKLO. Private Trust Co. NA bought a new position in Oklo during the second quarter valued at about $25,000. Caldwell Sutter Capital Inc. acquired a new position in Oklo during the second quarter valued at $25,000. Fourth Dimension Wealth LLC grew its stake in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Oklo in the second quarter valued at about $28,000. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after buying an additional 305 shares during the last quarter. 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.