Oklo (NYSE:OKLO) Trading Down 3.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price was down 3.5% during mid-day trading on Friday . The company traded as low as $130.11 and last traded at $132.6050. Approximately 11,372,490 shares were traded during trading, a decline of 40% from the average daily volume of 18,802,107 shares. The stock had previously closed at $137.39.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKLO shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a report on Wednesday, October 8th. Seaport Res Ptn lowered shares of Oklo from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Barclays set a $146.00 target price on shares of Oklo in a report on Monday, September 29th. Citigroup upped their target price on shares of Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an “overweight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.14.

Oklo Price Performance

The stock’s fifty day moving average is $115.50 and its 200-day moving average is $74.73. The stock has a market cap of $19.57 billion, a PE ratio of -315.72 and a beta of 0.69.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). On average, sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director owned 150,000 shares of the company’s stock, valued at $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OKLO. Caldwell Sutter Capital Inc. acquired a new position in Oklo in the second quarter valued at about $25,000. Private Trust Co. NA acquired a new position in Oklo in the second quarter valued at about $25,000. Fourth Dimension Wealth LLC lifted its position in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo during the third quarter worth about $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Oklo during the second quarter worth about $28,000. 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.