Oklo (NYSE:OKLO) Shares Down 1.8% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares fell 1.8% during mid-day trading on Thursday . The stock traded as low as $41.60 and last traded at $42.2070. 10,667,998 shares changed hands during trading, a decline of 7% from the average daily volume of 11,491,814 shares. The stock had previously closed at $42.99.

Wall Street Analyst Weigh In

OKLO has been the subject of several recent analyst reports. Bank of America began coverage on Oklo in a research note on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target for the company. Citigroup boosted their target price on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Tigress Financial began coverage on shares of Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Trading Down 1.8%

The firm has a market cap of $7.34 billion, a P/E ratio of -50.25 and a beta of 1.17. The stock has a 50 day simple moving average of $51.78 and a 200-day simple moving average of $61.04.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the company earned ($0.07) EPS. As a group, equities analysts forecast that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the transaction, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Oklo during the second quarter worth $24,532,000. Handelsbanken Fonder AB lifted its holdings in shares of Oklo by 43.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 52,900 shares of the company’s stock worth $2,768,000 after acquiring an additional 16,100 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Oklo by 12.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,609 shares of the company’s stock worth $1,916,000 after purchasing an additional 4,187 shares during the period. Gradient Investments LLC grew its holdings in Oklo by 38.6% during the 2nd quarter. Gradient Investments LLC now owns 34,335 shares of the company’s stock valued at $1,797,000 after purchasing an additional 9,570 shares during the last quarter. Finally, Evanson Financial LLC purchased a new stake in Oklo in the 2nd quarter worth about $232,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.