Oklo (NYSE:OKLO) Stock Price Down 6.9% – Should You Sell?

Oklo Inc. (NYSE:OKLO) was down 6.9% on Wednesday . The stock traded as low as $36.61 and last traded at $36.85. Approximately 8,374,528 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 11,619,117 shares. The stock had previously closed at $39.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup increased their target price on Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays decreased their price target on Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Truist Financial started coverage on shares of Oklo in a research report on Monday, July 13th. They issued a “hold” rating and a $55.00 price objective for the company. Wolfe Research began coverage on shares of Oklo in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Finally, Guggenheim initiated coverage on shares of Oklo in a research report on Thursday, June 25th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Oklo Stock Down 6.9%

The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -43.87 and a beta of 1.14. The firm has a 50 day moving average price of $54.80 and a two-hundred day moving average price of $63.47.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same period last year, the firm posted ($0.07) earnings per share. Analysts predict that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the completion of the sale, the chief executive officer owned 538,039 shares of the company’s stock, valued at approximately $36,742,683.31. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a 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, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 683,629 shares of company stock valued at $43,902,208 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. increased its position in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Costello Asset Management INC raised its stake in shares of Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Oklo by 356.2% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares during the last quarter. Gilpin Wealth Management LLC bought a new position in shares of Oklo during the fourth quarter worth about $29,000. Finally, SHP Wealth Management acquired a new position in Oklo in the fourth quarter worth about $32,000. 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.