Oklo (NYSE:OKLO) Shares Down 5.3% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 5.3% on Tuesday . The company traded as low as $37.80 and last traded at $39.5770. Approximately 8,588,091 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 11,631,132 shares. The stock had previously closed at $41.81.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Tigress Financial initiated coverage on shares of Oklo in a research report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, May 13th. UBS Group dropped their target price on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, HSBC assumed coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Oklo Price Performance

The firm has a 50 day moving average price of $54.28 and a 200-day moving average price of $63.04. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -48.92 and a beta of 1.14.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the business earned ($0.07) earnings per share. On average, sell-side analysts expect that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the sale, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 36,175 shares in the company, valued at approximately $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 683,629 shares of company stock worth $43,902,208 in the last quarter. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. raised its holdings in Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC lifted its stake in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Oklo by 356.2% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares during the last quarter. Gilpin Wealth Management LLC bought a new position in Oklo in the fourth quarter valued at $29,000. Finally, SHP Wealth Management acquired a new stake in Oklo in the 4th quarter valued at $32,000. Institutional investors and hedge funds 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.