Oklo (NYSE:OKLO) Stock Price Down 5% - Time to Sell?

Key Points

• Oklo Inc. (NYSE:OKLO) shares fell by 5% to $74.02 in Friday’s trading, with a significant decline in trading volume, down 66% from the average.
• Analyst ratings reveal mixed sentiments, with a consensus of “Moderate Buy” and a price target of $66.45, alongside recent changes in stock ratings from various firms.
• Insiders have sold a total of 600,000 shares over the past three months, indicating potential concerns about the company's stock performance.

Oklo Inc. (NYSE:OKLO - Get Free Report) was down 5% during trading on Friday . The stock traded as low as $72.78 and last traded at $74.02. Approximately 6,019,447 shares traded hands during trading, a decline of 66% from the average daily volume of 17,881,049 shares. The stock had previously closed at $77.89.

Analyst Ratings Changes

Several research analysts have recently commented on OKLO shares. BTIG Research reiterated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Citigroup raised their price objective on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. BNP Paribas raised Oklo to a "strong sell" rating in a research report on Friday, July 25th. Finally, William Blair reissued an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.45.

Oklo Stock Performance

The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of -178.52 and a beta of 0.60. The firm has a 50-day simple moving average of $66.47 and a two-hundred day simple moving average of $45.98.

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

Insider Transactions at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the transaction, the director directly owned 250,000 shares of the company's stock, valued at approximately $15,685,000. The trade was a 37.50% 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 business's 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 owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. The trade was a 2.88% 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 valued at $35,066,500. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA purchased a new stake in Oklo during the second quarter worth approximately $25,000. Caldwell Sutter Capital Inc. purchased a new stake in Oklo in the second quarter valued at approximately $25,000. Fourth Dimension Wealth LLC lifted 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 buying an additional 250 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Oklo in the second quarter valued at approximately $28,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 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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