Oklo (NYSE:OKLO) Hits New 1-Year Low – Should You Sell?

Oklo Inc. (NYSE:OKLO) reached a new 52-week low during trading on Tuesday . The company traded as low as $38.35 and last traded at $38.7550, with a volume of 1482204 shares trading hands. The stock had previously closed at $41.81.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays lowered their price objective on Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research report on Friday, May 22nd. Citigroup raised their price target on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Truist Financial started coverage on shares of Oklo in a research report on Monday, July 13th. They set a “hold” rating and a $55.00 price objective for the company. Finally, Bank of America assumed coverage on shares of Oklo in a research report on Friday, May 22nd. They set a “buy” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Oklo Stock Down 3.2%

The firm has a market capitalization of $7.04 billion, a P/E ratio of -47.99 and a beta of 1.14. The company’s 50 day moving average is $55.13 and its 200-day moving average is $63.87.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, analysts predict that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. This represents a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 in the company, valued at approximately $2,099,597. The trade was a 22.58% decrease in their position. 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. Insiders sold 683,629 shares of company stock valued at $43,902,208 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of large investors have recently modified their holdings of the company. NBC Securities Inc. increased its stake in Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Costello Asset Management INC raised its holdings in shares of Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Oklo by 356.2% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after acquiring an additional 285 shares during the last quarter. Gilpin Wealth Management LLC bought a new position in Oklo in the 4th quarter valued at about $29,000. Finally, SHP Wealth Management bought a new position in Oklo in the 4th quarter valued at about $32,000. 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.