Oklo (NYSE:OKLO) Shares Down 6% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 6% during mid-day trading on Monday . The stock traded as low as $45.07 and last traded at $45.9270. Approximately 10,042,782 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 11,870,109 shares. The stock had previously closed at $48.85.

Analyst Ratings Changes

Several brokerages have issued reports on OKLO. Citigroup lifted their target price on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wolfe Research started coverage on Oklo in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a research note on Wednesday, March 18th. HSBC started coverage on shares of Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.81.

Oklo Stock Down 6.0%

The stock has a market cap of $7.99 billion, a PE ratio of -54.67 and a beta of 1.14. The stock has a 50-day moving average of $61.09 and a 200 day moving average of $66.66.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter last year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that Oklo Inc. will post -0.73 EPS for the current year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the transaction, the chief executive officer owned 511,533 shares in the company, valued at $27,008,942.40. This trade represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 683,629 shares of company stock worth $43,902,208. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. NBC Securities Inc. boosted its stake in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC lifted 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 purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC grew its holdings in Oklo by 356.2% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after buying an additional 285 shares in 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 acquired a new position in shares of Oklo during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.