Oklo (NYSE:OKLO) Shares Down 4.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price was down 4.5% during trading on Tuesday . The company traded as low as $50.02 and last traded at $50.08. Approximately 19,798,797 shares were traded during mid-day trading, an increase of 54% from the average daily volume of 12,896,404 shares. The stock had previously closed at $52.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. William Blair initiated coverage on shares of Oklo in a research note on Wednesday, May 28th. They set an “outperform” rating for the company. Wedbush upped their price objective on Oklo from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. CLSA raised Oklo from an “outperform” rating to a “moderate buy” rating and increased their target price for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. HC Wainwright began coverage on Oklo in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 target price on the stock. Finally, B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.67.

Oklo Stock Performance

The company has a market capitalization of $7.01 billion, a P/E ratio of -9.31 and a beta of -0.02. The stock has a fifty day moving average of $29.77 and a 200 day moving average of $29.79.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the stock in a transaction dated Friday, March 28th. Following the , the insider now owns 10,893,926 shares in the company, valued at approximately $249,253,026.88. This represents a 1.27% decrease in their position. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Jansen bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in OKLO. Vanguard Group Inc. lifted its holdings in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Oklo in the fourth quarter worth $2,209,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock worth $198,000 after buying an additional 8,950 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Oklo during the fourth quarter worth $1,693,000. Finally, WJ Wealth Management LLC purchased a new position in Oklo during the fourth quarter valued at $457,000. 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.