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

Oklo Inc. (NYSE:OKLO) was down 5.5% during mid-day trading on Friday . The stock traded as low as $76.16 and last traded at $76.8490. Approximately 7,049,355 shares were traded during trading, a decline of 60% from the average daily volume of 17,773,947 shares. The stock had previously closed at $81.31.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OKLO shares. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of Oklo in a research note on Wednesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price target on shares of Oklo in a research report on Wednesday, November 12th. B. Riley lifted their price objective 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. Finally, The Goldman Sachs Group initiated coverage on shares of Oklo in a research report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.87.

Oklo Stock Down 5.5%

The business has a 50-day moving average of $103.61 and a 200-day moving average of $91.40. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of -142.31 and a beta of 0.73.

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

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 840,000 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the transaction, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. This represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $76.97, for a total value of $397,088.23. Following the completion of the sale, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at $15,156,393.61. This represents a 2.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,232,800 shares of company stock valued at $110,433,480 over the last ninety days. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in the stock. Black Swift Group LLC bought a new position in shares of Oklo during the 2nd quarter worth approximately $280,000. Bouvel Investment Partners LLC purchased a new position in Oklo during the second quarter worth about $2,263,000. Prospera Financial Services Inc boosted its position in Oklo by 10.0% in the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after purchasing an additional 4,678 shares during the last quarter. Strs Ohio purchased a new position in Oklo in the second quarter valued at about $1,069,000. Finally, Wealthedge Investment Advisors LLC bought a new position in Oklo during the second quarter worth about $738,000. 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.