Oklo (NYSE:OKLO) Shares Down 3.3% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s stock price dropped 3.3% during trading on Thursday . The company traded as low as $40.77 and last traded at $41.54. 6,296,444 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 11,416,172 shares. The stock had previously closed at $42.94.

Analysts Set New Price Targets

OKLO has been the topic of several research analyst reports. Barclays decreased their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Truist Financial reduced their target price on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a report on Monday, August 10th. JPMorgan Chase & Co. started coverage on Oklo in a research report on Monday, May 11th. They set a “neutral” rating and a $83.00 price target on the stock. Tigress Financial started coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 price target for the company. Finally, Guggenheim began coverage on Oklo in a research note on Thursday, June 25th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.03.

Oklo Stock Up 1.2%

The stock’s 50-day moving average price is $47.39 and its 200-day moving average price is $57.49. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -44.85 and a beta of 1.17.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same period in the previous year, the business earned ($0.18) EPS. Oklo’s revenue was up 11900.0% compared to the same quarter last year. On average, equities research analysts anticipate that Oklo Inc. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 473,081 shares of company stock valued at $29,243,402. 12.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OKLO. Sei Investments Co. boosted its position in shares of Oklo by 344.6% in the 1st quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock worth $2,484,000 after purchasing an additional 38,829 shares during the last quarter. DNB Asset Management AS increased its holdings in Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock valued at $2,054,000 after purchasing an additional 17,253 shares during the last quarter. M&T Bank Corp lifted its stake in Oklo by 740.6% in the fourth quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after buying an additional 19,945 shares during the period. Vanguard Group Inc. lifted its stake in Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after buying an additional 44,036 shares during the period. Finally, Danske Bank A S bought a new position in Oklo during the fourth quarter worth about $2,992,000. Institutional investors own 85.03% of the company’s stock.

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.