Oklo (NYSE:OKLO) Shares Down 3.7% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 3.7% on Wednesday . The company traded as low as $21.60 and last traded at $22.14. Approximately 1,856,816 shares traded hands during trading, a decline of 89% from the average daily volume of 16,704,457 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OKLO shares. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. BTIG Research initiated coverage on Oklo in a research report on Friday, April 11th. They issued a "neutral" rating for the company. Citigroup cut their price target 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 Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price on the stock. Finally, Wedbush restated an "outperform" rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and a consensus target price of $44.25.

Oklo Trading Up 2.0 %

The company's fifty day moving average is $29.48 and its 200 day moving average is $26.10. The company has a market capitalization of $3.06 billion, a P/E ratio of -2.17 and a beta of -0.01.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data 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 research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In other Oklo news, Director John M. Jansen acquired 6,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the transaction, the director now owns 6,000 shares of the company's stock, valued at approximately $147,420. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $21.80, for a total value of $893,800.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. purchased a new position in Oklo in the 4th quarter worth approximately $27,000. Sandy Spring Bank bought a new position in Oklo in the fourth quarter valued at $32,000. CoreCap Advisors LLC purchased a new stake in Oklo during the fourth quarter valued at about $32,000. Covestor Ltd purchased a new stake in Oklo during the fourth quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new stake in Oklo during the fourth quarter worth about $43,000. 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.