Oklo (NYSE:OKLO) Stock Price Down 4.1% - Time to Sell?

Key Points

• Oklo Inc.'s stock price fell by 4.1% on Tuesday, trading at $66.15, with a notable decrease in trading volume of 76% from its average.
• Equity analysts have upgraded Oklo's stock rating to "strong-buy" and the stock has a consensus target price of $63.78 despite a recent earnings miss.
• Insider selling has occurred recently, with notable transactions from the CEO and a director, leading to a 20% and 2.88% decrease in their ownership, respectively.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price fell 4.1% on Tuesday . The stock traded as low as $66.10 and last traded at $66.15. 4,321,763 shares were traded during trading, a decline of 76% from the average session volume of 18,057,629 shares. The stock had previously closed at $68.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OKLO shares. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Finally, 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. Two equities 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.78.

Oklo Stock Performance

The stock has a market cap of $9.81 billion, a P/E ratio of -157.75 and a beta of 0.60. The company's 50 day moving average price is $65.17 and its 200-day moving average price is $44.76.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 600,000 shares of company stock worth $35,066,500. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Oklo in the 2nd quarter worth about $200,000. Geneos Wealth Management Inc. raised its position in Oklo by 2.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 37,976 shares of the company's stock worth $2,126,000 after buying an additional 1,003 shares during the last quarter. Evergreen Capital Management LLC raised its position in Oklo by 4.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 25,332 shares of the company's stock worth $1,418,000 after buying an additional 1,147 shares during the last quarter. Firsthand Capital Management Inc. raised its position in Oklo by 200.0% in the 2nd quarter. Firsthand Capital Management Inc. now owns 30,000 shares of the company's stock worth $1,680,000 after buying an additional 20,000 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in Oklo by 313.8% in the 2nd quarter. Rakuten Securities Inc. now owns 26,121 shares of the company's stock worth $1,463,000 after buying an additional 19,808 shares during the last quarter. 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.

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