Oklo (NYSE:OKLO) Shares Down 12.8% – Should You Sell?

Shares of Oklo Inc. (NYSE:OKLO) dropped 12.8% during mid-day trading on Friday . The company traded as low as $17.80 and last traded at $19.09. Approximately 7,933,545 shares were traded during trading, a decline of 32% from the average daily volume of 11,680,325 shares. The stock had previously closed at $21.89.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Craig Hallum started coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Price Performance

The business has a 50-day moving average price of $35.27 and a two-hundred day moving average price of $24.94. The firm has a market cap of $2.76 billion, a PE ratio of -1.96 and a beta of -0.28.

Oklo (NYSE:OKLO) last announced its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Equities analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares of the company’s stock, valued at approximately $236,593,786.80. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Triton Wealth Management PLLC purchased a new position in shares of Oklo during the 4th quarter worth $559,000. Windmill Hill Asset Management Ltd purchased a new position in Oklo during the fourth quarter worth about $1,476,000. Polar Asset Management Partners Inc. acquired a new stake in Oklo in the 4th quarter worth about $781,000. Alpine Global Management LLC acquired a new position in shares of Oklo during the 4th quarter valued at about $427,000. Finally, Value Aligned Research Advisors LLC purchased a new position in shares of Oklo during the 4th quarter worth about $1,209,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.