Oklo (NYSE:OKLO) Shares Down 1.9% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) were down 1.9% during mid-day trading on Monday . The stock traded as low as $92.63 and last traded at $95.6790. Approximately 10,633,255 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 18,544,652 shares. The stock had previously closed at $97.57.

Analysts Set New Price Targets

A number of equities analysts have commented on OKLO shares. Daiwa America upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 27th. Citigroup increased their target price on Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Zacks Research cut Oklo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. UBS Group set a $175.00 price objective on shares of Oklo in a research report on Thursday, October 9th. Finally, BNP Paribas upgraded shares of Oklo to a “strong sell” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.29.

Oklo Price Performance

The business’s 50-day simple moving average is $123.01 and its two-hundred day simple moving average is $81.27. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of -177.18 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, November 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the sale, the chief financial officer directly owned 75,738 shares of the company’s stock, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the sale, the chief executive officer owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 491,387 shares of company stock valued at $52,698,580 over the last three months. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after acquiring an additional 2,901,909 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Oklo by 71.8% in 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 period. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 1,316,867 shares during the period. Geode Capital Management LLC raised its position in Oklo by 195.9% during 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, State Street Corp lifted its holdings in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after buying an additional 1,752,946 shares during the period. 85.03% of the stock is owned by institutional investors.

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.