Oklo (NYSE:OKLO) Trading Down 3.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 3.4% on Thursday . The stock traded as low as $22.33 and last traded at $23.26. 3,299,740 shares were traded during trading, a decline of 72% from the average session volume of 11,768,481 shares. The stock had previously closed at $24.08.

Wall Street Analyst Weigh In

OKLO has been the subject of several research analyst reports. Citigroup reduced their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. BTIG Research began coverage on shares of Oklo in a report on Friday. They set a “neutral” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a report on Tuesday, March 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Down 1.0 %

The stock’s 50-day simple moving average is $32.41 and its two-hundred day simple moving average is $25.75. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -2.22 and a beta of -0.01.

Oklo (NYSE:OKLO) last released its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, sell-side analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In related news, Director John M. Jansen bought 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds have recently made changes to their positions in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Oklo by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock valued at $104,646,000 after purchasing an additional 74,315 shares during the period. Vanguard Group Inc. grew its stake in shares of Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Van ECK Associates Corp purchased a new position in Oklo in the fourth quarter valued at $38,661,000. Atomi Financial Group Inc. acquired a new stake in Oklo in the fourth quarter valued at $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Oklo in the 4th quarter valued at about $17,104,000. Institutional investors and hedge funds 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.