Oklo (NYSE:OKLO) Stock Price Down 3.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $21.60 and last traded at $22.14. Approximately 1,856,816 shares traded hands during trading, a decline of 89% from the average daily volume of 16,704,457 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Several equities analysts have commented on OKLO shares. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. B. Riley boosted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. BTIG Research assumed coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating for the company. Citigroup reduced their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Finally, Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Performance

The stock has a 50 day moving average of $31.35 and a 200-day moving average of $25.94. The company has a market cap of $2.98 billion, a PE ratio of -2.12 and a beta of -0.01.

Oklo (NYSE:OKLO) last released its earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Equities research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In related news, Director John M. Jansen purchased 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was bought at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $147,420. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the sale, the chief executive officer now directly owns 10,852,926 shares in the company, valued at $236,593,786.80. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after acquiring an additional 416 shares during the period. Ancora Advisors LLC raised its holdings in Oklo by 18.2% in the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after purchasing an additional 710 shares during the period. TD Waterhouse Canada Inc. purchased a new position in Oklo during the fourth quarter worth approximately $27,000. CoreCap Advisors LLC purchased a new position in Oklo during the fourth quarter worth approximately $32,000. Finally, Sandy Spring Bank acquired a new stake in Oklo in the fourth quarter valued at approximately $32,000. 85.03% of the stock is owned by hedge funds and other 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.