Oklo (NYSE:OKLO) Shares Down 0.5% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 0.5% during trading on Monday . The company traded as low as $34.88 and last traded at $37.51. Approximately 8,769,445 shares changed hands during trading, a decline of 26% from the average daily volume of 11,907,740 shares. The stock had previously closed at $37.72.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush set a $45.00 price objective on Oklo and gave the company an “outperform” rating in a report on Wednesday, May 14th. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.40.

Oklo Stock Performance

The stock’s 50 day simple moving average is $25.42 and its two-hundred day simple moving average is $27.89. The firm has a market capitalization of $5.54 billion, a PE ratio of -7.35 and a beta of -0.02.

Oklo (NYSE:OKLO) last released its 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. Equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 41,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares in the company, valued at $236,593,786.80. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John M. Jansen purchased 6,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $147,420. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $104,646,000 after acquiring an additional 74,315 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Oklo by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company’s stock worth $94,770,000 after purchasing an additional 37,718 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Oklo during the fourth quarter worth $38,661,000. Compound Planning Inc. grew its stake in shares of Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company’s stock worth $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Oklo during the fourth quarter worth $19,285,000. Institutional investors and hedge funds 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.