Oklo (NYSE:OKLO) Stock Price Down 2.7% – Should You Sell?

Oklo Inc. (NYSE:OKLO) traded down 2.7% on Friday . The company traded as low as $23.15 and last traded at $23.18. 3,162,313 shares changed hands during trading, a decline of 73% from the average session volume of 11,646,528 shares. The stock had previously closed at $23.82.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKLO. Wedbush reiterated an “outperform” rating and set a $45.00 target price on shares of Oklo in a report on Tuesday. Citigroup dropped their target price on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. B. Riley raised their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Performance

The stock has a 50-day simple moving average of $36.17 and a two-hundred day simple moving average of $24.37. The firm has a market cap of $2.73 billion, a PE ratio of -2.23 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 for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). As a group, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in OKLO. Portland Investment Counsel Inc. bought a new position in Oklo in the third quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC bought a new stake in Oklo during the third quarter valued at about $19,753,000. Atomi Financial Group Inc. bought a new stake in Oklo during the fourth quarter valued at about $19,285,000. Archford Capital Strategies LLC bought a new position in shares of Oklo in the fourth quarter worth about $212,000. Finally, Barclays PLC purchased a new position in shares of Oklo during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors 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.