Oklo (NYSE:OKLO) Trading Down 11% – Should You Sell?

Oklo Inc. (NYSE:OKLO) fell 11% on Friday . The stock traded as low as $56.63 and last traded at $58.2250. 18,312,665 shares were traded during mid-day trading, an increase of 49% from the average session volume of 12,315,845 shares. The stock had previously closed at $65.39.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OKLO. Tigress Financial began coverage on Oklo in a research report on Monday, April 27th. They issued a “buy” rating and a $130.00 target price for the company. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. UBS Group dropped their target price on Oklo from $95.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Oklo in a research report on Wednesday, March 18th. Finally, HSBC started coverage on Oklo in a research report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.06.

Oklo Trading Down 11.0%

The stock’s fifty day moving average price is $62.90 and its two-hundred day moving average price is $73.40. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of -69.31 and a beta of 1.10.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter last year, the business earned ($0.07) earnings per share. Analysts anticipate that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $4,097,400.00. Following the sale, the chief executive officer directly owned 571,533 shares in the company, valued at approximately $39,029,988.57. This trade represents a 9.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 892,669 shares of company stock worth $55,773,903. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its stake in Oklo by 56.8% during the first quarter. NewEdge Advisors LLC now owns 35,894 shares of the company’s stock worth $1,780,000 after purchasing an additional 13,002 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Oklo during the first quarter worth approximately $2,414,000. Western Wealth Management LLC purchased a new stake in Oklo during the first quarter worth approximately $130,000. Silicon Valley Capital Partners lifted its stake in Oklo by 155.8% during the first quarter. Silicon Valley Capital Partners now owns 1,862 shares of the company’s stock worth $92,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after purchasing an additional 220,976 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

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.