Oklo (NYSE:OKLO) Shares Down 4.4% – Time to Sell?

Shares of Oklo Inc. (NYSE:OKLO) traded down 4.4% during mid-day trading on Monday . The company traded as low as $85.50 and last traded at $87.3680. 6,688,327 shares changed hands during trading, a decline of 64% from the average session volume of 18,368,982 shares. The stock had previously closed at $91.38.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OKLO. Barclays set a $146.00 target price on Oklo in a research report on Monday, September 29th. B. Riley raised their price target on shares of Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Canaccord Genuity Group began coverage on Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 target price on the stock. Seaport Res Ptn cut Oklo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $106.29.

Oklo Trading Down 4.4%

The company’s fifty day moving average is $123.18 and its two-hundred day moving average is $85.70. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of -161.79 and a beta of 0.73.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the firm earned ($0.08) EPS. Analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer directly owned 9,780,098 shares of the company’s stock, valued at $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Carroll Murphy Goodwin sold 11,936 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $101.84, for a total transaction of $1,215,562.24. Following the transaction, the insider owned 8,750 shares in the company, valued at $891,100. The trade was a 57.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 503,323 shares of company stock valued at $53,914,143 over the last quarter. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. boosted its stake in Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after purchasing an additional 2,901,909 shares in the last quarter. State Street Corp grew its holdings in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the period. Geode Capital Management LLC grew its stake in shares of Oklo by 195.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after purchasing an additional 1,488,482 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares in the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

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.