Oklo (NYSE:OKLO) Stock Price Down 3% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 3% during trading on Thursday . The company traded as low as $20.80 and last traded at $22.03. Approximately 4,789,595 shares changed hands during trading, a decline of 59% from the average daily volume of 11,667,042 shares. The stock had previously closed at $22.70.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OKLO. Citigroup cut their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. B. Riley boosted their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Oklo in a research report on Tuesday, March 25th. Finally, Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Trading Down 9.4 %

The company has a market cap of $2.76 billion, a price-to-earnings ratio of -1.96 and a beta of -0.28. The stock’s 50 day moving average price is $34.83 and its 200 day moving average price is $25.03.

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

Insider Transactions at Oklo

In other Oklo news, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. Triton Wealth Management PLLC purchased a new position in Oklo in the fourth quarter valued at about $559,000. Windmill Hill Asset Management Ltd purchased a new stake in shares of Oklo during the 4th quarter valued at about $1,476,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Oklo during the 4th quarter valued at about $781,000. Alpine Global Management LLC acquired a new position in Oklo during the 4th quarter worth approximately $427,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Oklo in the 4th quarter worth approximately $1,209,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.