Oklo (NYSE:OKLO) Trading Down 3.2% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price traded down 3.2% on Wednesday . The company traded as low as $98.32 and last traded at $100.5590. 9,200,305 shares traded hands during trading, a decline of 49% from the average session volume of 18,164,684 shares. The stock had previously closed at $103.93.

Analysts Set New Price Targets

A number of research firms recently issued reports on OKLO. The Goldman Sachs Group began coverage on Oklo in a report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 target price for the company. William Blair reissued an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Barclays set a $146.00 target price on shares of Oklo in a research note on Monday, September 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 price target on shares of Oklo in a research note on Wednesday, November 12th. Finally, Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.87.

Oklo Price Performance

The company’s 50 day simple moving average is $118.14 and its 200 day simple moving average is $89.12. The company has a market capitalization of $13.69 billion, a PE ratio of -162.28 and a beta of 0.73.

Oklo (NYSE:OKLO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the business posted ($0.08) EPS. On average, equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 7,622 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the completion of the sale, the chief financial officer directly owned 121,913 shares of the company’s stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the director directly owned 150,000 shares of the company’s stock, valued at approximately $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 467,800 shares of company stock worth $51,531,823 over the last three months. 18.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings 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 worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after buying an additional 2,968,981 shares during the period. Van ECK Associates Corp raised its position in Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after buying an additional 1,316,867 shares during the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 1,488,482 shares during the period. Finally, State Street Corp boosted its holdings in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after acquiring an additional 1,752,946 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other 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.