Oklo (NYSE:OKLO) Shares Down 12.8% – Time to Sell?

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

Wall Street Analyst Weigh In

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

Oklo Trading Down 9.4 %

The stock has a market capitalization of $2.76 billion, a P/E ratio of -1.96 and a beta of -0.01. The company has a fifty day simple moving average of $34.83 and a two-hundred day simple moving average of $25.16.

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

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the transaction, the chief executive officer now owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Jansen bought 6,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the acquisition, the director now 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 and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Oklo during the third quarter worth about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo during the third quarter worth about $104,000. Point72 Asset Management L.P. bought a new position in shares of Oklo during the 3rd quarter valued at about $1,023,000. Stifel Financial Corp acquired a new position in shares of Oklo in the 3rd quarter valued at approximately $104,000. Finally, State Street Corp bought a new stake in Oklo during the 3rd quarter worth approximately $2,889,000. 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.