Oklo (NYSE:OKLO) Stock Price Down 5.8% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares dropped 5.8% during trading on Monday . The company traded as low as $56.80 and last traded at $58.6320. Approximately 14,446,182 shares traded hands during trading, an increase of 23% from the average daily volume of 11,760,270 shares. The stock had previously closed at $62.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Barclays dropped their price target on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Oklo in a report on Wednesday, May 13th. Texas Capital raised Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, UBS Group lowered their target price on Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Oklo Stock Performance

The company has a market cap of $10.20 billion, a price-to-earnings ratio of -69.80 and a beta of 1.16. The company’s 50 day moving average price is $60.92 and its 200 day moving average price is $78.67.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. On average, equities research analysts forecast that Oklo Inc. will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the transaction, the chief executive officer owned 656,483 shares in the company, valued at $33,080,178.37. This trade represents a 17.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Craig Bealmear sold 72,090 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the completion of the sale, the chief financial officer owned 386,008 shares of the company’s stock, valued at $23,160,480. The trade was a 15.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 809,040 shares of company stock worth $49,162,094 over the last three months. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caprock Group LLC bought a new position in shares of Oklo during the 3rd quarter worth about $14,829,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Oklo by 48.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock worth $18,403,000 after purchasing an additional 54,080 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Oklo by 298.6% during the third quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock valued at $2,612,000 after purchasing an additional 17,526 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Oklo in the third quarter valued at $2,177,000. Finally, Van ECK Associates Corp lifted its position in Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

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.