Oklo (NYSE:OKLO) Shares Down 0.2% – Should You Sell?

Oklo Inc. (NYSE:OKLO) traded down 0.2% on Wednesday . The stock traded as low as $21.80 and last traded at $22.48. 3,925,713 shares traded hands during trading, a decline of 66% from the average session volume of 11,667,556 shares. The stock had previously closed at $22.53.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target for the company. Finally, Citigroup lowered their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Performance

The firm’s 50-day moving average is $35.83 and its 200 day moving average is $24.97. The firm has a market capitalization of $3.21 billion, a PE ratio of -2.28 and a beta of -0.28.

Oklo (NYSE:OKLO) last released its quarterly 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). As a group, equities analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 41,000 shares of the company’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 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. This represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Jansen bought 6,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was purchased 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 of the company’s stock, valued at approximately $147,420. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the third quarter worth about $19,753,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the fourth quarter worth $19,285,000. Archford Capital Strategies LLC acquired a new stake in Oklo in the fourth quarter valued at $212,000. Raymond James Financial Inc. bought a new position in Oklo during the 4th quarter valued at $2,209,000. Finally, Barclays PLC acquired a new position in Oklo during the 3rd quarter worth $58,000. 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.