Oklo (NYSE:OKLO) Stock Price Down 1.2% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price dropped 1.2% during trading on Monday . The company traded as low as $43.50 and last traded at $43.86. 5,976,025 shares traded hands during trading, a decline of 48% from the average session volume of 11,493,653 shares. The stock had previously closed at $44.38.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKLO. Bank of America initiated coverage on Oklo in a research report on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price for the company. HSBC started coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target on the stock. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a report on Friday, May 22nd. Citigroup cut their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Canaccord Genuity Group reduced their target price on shares of Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.03.

Oklo Trading Down 5.5%

The firm has a market cap of $7.71 billion, a PE ratio of -44.11 and a beta of 1.17. The firm has a 50 day moving average price of $48.24 and a 200-day moving average price of $58.17.

Oklo (NYSE:OKLO) last released its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share 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 earned ($0.18) EPS. The business’s revenue for the quarter was up 11900.0% on a year-over-year basis. Equities analysts forecast that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the sale, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. The trade was a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 473,081 shares of company stock worth $29,243,402. Insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors have recently bought and sold shares of OKLO. Vanguard Group Inc. boosted its holdings in Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after purchasing an additional 44,036 shares in the last quarter. Van ECK Associates Corp raised its holdings in Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after purchasing an additional 481,288 shares in the last quarter. State Street Corp lifted its position in shares of Oklo by 23.6% during the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after buying an additional 584,184 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Oklo by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after buying an additional 185,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Oklo by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after buying an additional 90,213 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.