Oklo (NYSE:OKLO) Stock Price Down 4.3% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price was down 4.3% during mid-day trading on Tuesday . The company traded as low as $81.11 and last traded at $85.7360. Approximately 12,455,029 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 18,522,316 shares. The stock had previously closed at $89.55.

Analyst Ratings Changes

Several equities analysts have recently commented on OKLO shares. Citigroup restated a “neutral” rating on shares of Oklo in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Oklo in a research report on Wednesday, November 12th. Bank of America dropped their price objective on Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 target price on shares of Oklo in a research note on Wednesday, November 12th. One investment 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’s stock. Based on data from MarketBeat, Oklo currently has a consensus rating of “Hold” and a consensus target price of $106.29.

Oklo Price Performance

The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of -158.77 and a beta of 0.70. The firm has a 50 day moving average price of $124.70 and a 200-day moving average price of $84.08.

Oklo (NYSE:OKLO) last released its 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 period in the previous year, the business earned ($0.08) earnings per share. Equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Craig Bealmear sold 92,378 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the sale, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 503,323 shares of company stock valued at $53,914,143. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Oklo during the first quarter worth $358,000. CWM LLC raised its stake in Oklo by 1,409.1% in the first quarter. CWM LLC now owns 4,980 shares of the company’s stock valued at $108,000 after buying an additional 4,650 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Oklo during the 1st quarter worth about $1,063,000. IFP Advisors Inc acquired a new position in shares of Oklo during the 1st quarter worth about $49,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Oklo in the 1st quarter valued at about $374,000. 85.03% of the stock is currently 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.