Oklo (NYSE:OKLO) Stock Price Down 5.5% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 5.5% during mid-day trading on Tuesday . The company traded as low as $41.17 and last traded at $41.4620. 7,684,637 shares were traded during mid-day trading, a decline of 33% from the average session volume of 11,462,627 shares. The stock had previously closed at $43.88.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKLO. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a report on Friday, May 22nd. Bank of America initiated coverage on shares of Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price for the company. Citigroup reduced their price target on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. Tigress Financial assumed coverage on Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Canaccord Genuity Group lowered their price target on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and an average target price of $85.03.

Oklo Trading Down 2.9%

The firm has a 50 day moving average price of $48.02 and a 200-day moving average price of $57.87. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of -44.44 and a beta of 1.17.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The company’s revenue was up 11900.0% compared to the same quarter last year. As a group, equities analysts expect that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 473,081 shares of company stock worth $29,243,402 over the last quarter. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Oklo by 162.6% in the first 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 purchased a new stake in Oklo during the 1st quarter worth about $519,000. Millennium Management LLC increased its position in Oklo by 4,974.1% during the 1st 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 in the last quarter. NewEdge Advisors LLC raised its stake in Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after purchasing 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% in 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 purchasing an additional 53,703 shares during the last quarter. 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.