Oklo (NYSE:OKLO) Stock Price Down 4.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares fell 4.4% during mid-day trading on Tuesday . The company traded as low as $44.91 and last traded at $46.6020. 6,315,085 shares were traded during mid-day trading, a decline of 38% from the average session volume of 10,184,155 shares. The stock had previously closed at $48.76.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Craig Hallum restated a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research note on Thursday, January 22nd. B. Riley Financial cut their price objective on Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Texas Capital raised Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group reduced their price target on shares of Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Oklo has an average rating of “Moderate Buy” and an average target price of $84.30.

Oklo Price Performance

The stock has a market cap of $8.55 billion, a P/E ratio of -69.55 and a beta of 0.93. The stock’s 50-day moving average is $61.50 and its two-hundred day moving average is $91.48.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period last year, the firm posted ($0.74) EPS. On average, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 2,820 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $56.69, for a total transaction of $159,865.80. Following the completion of the transaction, the insider owned 15,991 shares in the company, valued at $906,529.79. This trade represents a 14.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $50.25, for a total transaction of $3,015,000.00. Following the completion of the sale, the chief executive officer owned 691,533 shares in the company, valued at approximately $34,749,533.25. This trade represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 910,394 shares of company stock valued at $61,103,619 over the last 90 days. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Oklo by 162.6% in the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after acquiring an additional 57,497 shares during the period. AQR Capital Management LLC purchased a new stake in Oklo in the 1st quarter worth approximately $519,000. Millennium Management LLC increased its stake in shares of Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after purchasing an additional 570,532 shares in the last quarter. NewEdge Advisors LLC increased its stake in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after buying an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after buying an additional 53,703 shares during the period. 85.03% of the stock is currently owned by institutional investors.

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.