Oklo (NYSE:OKLO) Shares Down 4.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 4.4% during mid-day trading on Thursday . The stock traded as low as $52.21 and last traded at $52.84. 9,698,913 shares traded hands during trading, a decline of 23% from the average session volume of 12,664,214 shares. The stock had previously closed at $55.24.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Oklo in a research report on Friday, April 11th. They issued a “neutral” rating on the stock. HC Wainwright began coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 target price on the stock. Wedbush increased their price target on Oklo from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, William Blair began coverage on Oklo in a research note on Wednesday. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.67.

Oklo Trading Down 0.3%

The company has a market cap of $7.35 billion, a P/E ratio of -9.76 and a beta of -0.02. The stock’s 50-day moving average price is $29.25 and its 200-day moving average price is $29.46.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. On average, research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the business’s stock in a transaction on Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares of the company’s stock, valued at approximately $249,253,026.88. This represents a 1.27% decrease in their position. The was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Jansen purchased 6,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its holdings in Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after purchasing an additional 416 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Oklo by 5.4% in the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company’s stock worth $194,000 after buying an additional 462 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Oklo by 14.1% in the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company’s stock worth $84,000 after buying an additional 481 shares during the last quarter. Intrua Financial LLC grew its holdings in shares of Oklo by 4.2% in the first quarter. Intrua Financial LLC now owns 13,375 shares of the company’s stock valued at $289,000 after acquiring an additional 535 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in shares of Oklo by 18.2% during the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after acquiring an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.