Oklo (NYSE:OKLO) Trading Down 12.6% – Should You Sell?

Oklo Inc. (NYSE:OKLO) was down 12.6% during mid-day trading on Wednesday . The company traded as low as $64.00 and last traded at $68.20. Approximately 18,804,833 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 14,194,327 shares. The stock had previously closed at $78.00.

Analyst Ratings Changes

Several research firms recently issued reports on OKLO. B. Riley upped their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. UBS Group reiterated a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. Texas Capital raised Oklo to a “strong-buy” rating in a report on Tuesday, January 27th. William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.20.

Oklo Stock Performance

The firm has a market cap of $10.66 billion, a PE ratio of -126.30 and a beta of 0.76. The stock has a 50 day simple moving average of $88.68 and a two-hundred day simple moving average of $97.04.

Oklo (NYSE:OKLO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 26,740 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $111.38, for a total transaction of $2,978,301.20. Following the sale, the chief executive officer directly owned 808,197 shares of the company’s stock, valued at approximately $90,016,981.86. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 5,159 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $76.97, for a total transaction of $397,088.23. Following the sale, the chief financial officer owned 196,913 shares in the company, valued at approximately $15,156,393.61. This represents a 2.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,552,800 shares of company stock worth $137,543,426. Insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of the company. Black Swift Group LLC purchased a new position in Oklo in the 2nd quarter valued at about $280,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Oklo by 48.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock worth $18,403,000 after buying an additional 54,080 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of Oklo by 10.0% during the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock valued at $2,880,000 after acquiring an additional 4,678 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of Oklo in the second quarter valued at approximately $738,000. Finally, Strs Ohio acquired a new stake in shares of Oklo in the second quarter worth approximately $1,069,000. 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.