Oklo (NYSE:OKLO) Shares Down 1.2% – Time to Sell?

Shares of Oklo Inc. (NYSE:OKLOGet Free Report) traded down 1.2% during mid-day trading on Wednesday . The company traded as low as $44.16 and last traded at $45.6820. Approximately 6,852,603 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 11,806,560 shares. The stock had previously closed at $46.24.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

Analyst Ratings Changes

OKLO has been the topic of several recent research reports. Truist Financial began coverage on Oklo in a research report on Monday. They set a “hold” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective on the stock. Craig Hallum reissued a “hold” rating on shares of Oklo in a research report on Wednesday, March 18th. UBS Group decreased 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, Citigroup raised their price target on shares of Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average price target of $84.00.

Get Our Latest Stock Report on OKLO

Oklo Stock Down 1.2%

The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -54.38 and a beta of 1.14. The company has a 50 day moving average of $60.11 and a 200 day moving average of $66.16.

Oklo (NYSE:OKLOGet Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the business posted ($0.07) EPS. As a group, equities research analysts expect that Oklo Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the sale, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. The trade was a 15.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 683,629 shares of company stock valued at $43,902,208. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

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

Oklo Company Profile

(Get Free Report)

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.

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