Oklo (NYSE:OKLO) Stock Price Down 5.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price traded down 5.5% during trading on Monday . The company traded as low as $39.42 and last traded at $39.7910. Approximately 7,422,039 shares were traded during trading, a decline of 35% from the average session volume of 11,361,429 shares. The stock had previously closed at $42.09.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. Truist Financial reduced their price target on shares of Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a research report on Monday, August 10th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Oklo in a research note on Monday, August 10th. Barclays dropped their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Citigroup cut their price objective on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.03.

Oklo Trading Down 5.5%

The company has a market cap of $7.40 billion, a price-to-earnings ratio of -42.33 and a beta of 1.17. The business has a fifty day moving average of $47.39 and a two-hundred day moving average of $57.38.

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

Insider Buying and Selling at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the company’s stock in a transaction 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 owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 473,081 shares of company stock valued at $29,243,402. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 worth $25,000 after buying an additional 150 shares in the last quarter. Costello Asset Management INC lifted its position in shares of Oklo by 66.7% in the first 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. Gilpin Wealth Management LLC acquired a new stake in shares of Oklo in the fourth quarter worth approximately $29,000. SHP Wealth Management acquired a new stake in shares of Oklo in the fourth quarter worth approximately $32,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Oklo during the first quarter worth approximately $33,000. 85.03% of the stock is owned by hedge funds and other 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.