Oklo (NYSE:OKLO) Shares Down 12.8% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) fell 12.8% during trading on Friday . The stock traded as low as $17.80 and last traded at $19.09. 7,933,545 shares changed hands during trading, a decline of 32% from the average session volume of 11,680,325 shares. The stock had previously closed at $21.89.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OKLO shares. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup decreased 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. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. Finally, B. Riley boosted their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Oklo Trading Down 9.4 %

The business’s fifty day simple moving average is $34.83 and its two-hundred day simple moving average is $25.16. The stock has a market capitalization of $2.76 billion, a P/E ratio of -1.96 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 analysts’ consensus estimates of ($0.08) by ($0.01). On average, equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In related news, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were 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. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 10,852,926 shares in the company, valued at approximately $236,593,786.80. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Several institutional investors have recently bought and sold shares of OKLO. Atomi Financial Group Inc. bought a new position in shares of Oklo during the fourth quarter valued at $19,285,000. Archford Capital Strategies LLC bought a new position in Oklo during the 4th quarter valued at about $212,000. Raymond James Financial Inc. acquired a new position in Oklo in the fourth quarter valued at about $2,209,000. Barclays PLC bought a new stake in Oklo during the third quarter worth about $58,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Oklo by 2,386.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock worth $198,000 after buying an additional 8,950 shares during the last quarter. 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.