Oklo (NYSE:OKLO) Stock Price Down 5.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price traded down 5.7% during trading on Wednesday . The company traded as low as $52.87 and last traded at $53.9140. Approximately 9,325,831 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 12,080,699 shares. The stock had previously closed at $57.19.

Analyst Ratings Changes

Several research firms have recently weighed in on OKLO. Royal Bank Of Canada set a $80.00 price objective on Oklo in a research report on Friday, May 22nd. Wolfe Research began coverage on Oklo in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Citigroup upped their price target on Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group lowered their price objective on shares of Oklo from $91.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.18.

Oklo Price Performance

The firm has a 50-day moving average of $65.03 and a 200 day moving average of $69.67. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of -59.70 and a beta of 1.10.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same period last year, the business posted ($0.07) EPS. On average, equities analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider directly owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the completion of the sale, the chief executive officer directly owned 656,483 shares in the company, valued at approximately $33,080,178.37. The trade was a 17.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 699,971 shares of company stock valued at $44,221,357 in the last quarter. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. Vanguard Group Inc. boosted its stake in Oklo by 0.4% in the 4th 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Oklo by 71.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Van ECK Associates Corp raised its position in Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after purchasing an additional 481,288 shares in the last quarter. State Street Corp raised its position in Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after purchasing an additional 584,184 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Oklo by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after purchasing an additional 185,265 shares during the last quarter. 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.