Oklo (NYSE:OKLO) Stock Price Down 3.3% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares fell 3.3% during mid-day trading on Thursday . The company traded as low as $63.62 and last traded at $64.06. 7,815,240 shares traded hands during trading, a decline of 41% from the average session volume of 13,253,616 shares. The stock had previously closed at $66.23.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. B. Riley Financial increased their price target on shares of Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $111.00 to $127.00 in a report on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a report on Friday, January 9th. Finally, UBS Group reissued a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.20.

Oklo Trading Up 3.0%

The stock has a market cap of $10.29 billion, a price-to-earnings ratio of -121.90 and a beta of 0.76. The company has a 50 day simple moving average of $84.31 and a 200-day simple moving average of $96.57.

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

Insiders Place Their Bets

In other Oklo news, CFO Richard Craig Bealmear sold 9,726 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the sale, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at $15,148,517.09. The trade was a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $74.45, for a total transaction of $4,467,000.00. Following the transaction, the chief executive officer owned 748,197 shares of the company’s stock, valued at approximately $55,703,266.65. This represents a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,762,526 shares of company stock worth $153,283,847. 18.90% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after buying an additional 2,901,909 shares during the last quarter. State Street Corp increased its holdings in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after buying an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC raised its position in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after acquiring an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after acquiring an additional 1,316,867 shares during the last quarter. Institutional investors own 85.03% of the company’s stock.

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.