Oklo (NYSE:OKLO) Trading Down 3% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 3% on Thursday . The stock traded as low as $20.80 and last traded at $22.03. Approximately 4,789,595 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 11,667,042 shares. The stock had previously closed at $22.70.

Wall Street Analysts Forecast Growth

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

Oklo Price Performance

The company has a 50 day moving average of $35.61 and a two-hundred day moving average of $24.96. The company has a market capitalization of $3.07 billion, a PE ratio of -2.18 and a beta of -0.28.

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 analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director John M. Jansen purchased 6,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 41,000 shares of the firm’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 transaction, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at approximately $236,593,786.80. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds have recently bought and sold shares of the company. Atomi Financial Group Inc. purchased a new position in Oklo in the fourth quarter worth about $19,285,000. Archford Capital Strategies LLC purchased a new position in Oklo in the 4th quarter worth approximately $212,000. Raymond James Financial Inc. bought a new position in Oklo in the 4th quarter valued at approximately $2,209,000. Barclays PLC purchased a new stake in Oklo during the 3rd quarter valued at $58,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Oklo by 2,386.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock worth $198,000 after purchasing an additional 8,950 shares in the last quarter. Institutional investors 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.