Oklo (NYSE:OKLO) Hits New 1-Year Low – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $26.82 and last traded at $27.1350, with a volume of 8,430,032 shares traded. The stock had previously closed at $27.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OKLO shares. Truist Financial set a $51.00 price target on shares of Oklo in a research report on Monday, September 28th. Barclays decreased their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Citigroup lowered 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. Canaccord Genuity Group dropped 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. Finally, Guggenheim began coverage on shares of Oklo in a report on Thursday, June 25th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.09.

Oklo Trading Down 3.0%

The firm has a 50-day moving average of $38.60 and a two-hundred day moving average of $50.26. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -28.87 and a beta of 1.20.

Oklo (NYSE:OKLO) last released its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. The firm’s revenue was up 11900.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. As a group, equities analysts anticipate that Oklo Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling

In other news, Director John M. Jansen sold 6,354 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $36.67, for a total value of $233,001.18. Following the sale, the director owned 6,000 shares in the company, valued at approximately $220,020. This trade represents a 51.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Hanson sold 1,100 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $37.39, for a total transaction of $41,129.00. Following the completion of the sale, the insider owned 361,350 shares in the company, valued at approximately $13,510,876.50. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 287,994 shares of company stock valued at $10,863,590 in the last ninety days. Company insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI raised its position in shares of Oklo by 1.0% during the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company’s stock worth $928,000 after acquiring an additional 182 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Oklo by 0.3% in the first quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company’s stock valued at $3,493,000 after acquiring an additional 183 shares during the last quarter. Triton Wealth Management PLLC boosted its holdings in Oklo by 1.3% in the first quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company’s stock valued at $734,000 after acquiring an additional 191 shares during the last quarter. Costello Asset Management INC boosted its holdings in Oklo by 66.7% in the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Finally, Swedbank AB increased its position in Oklo by 3.4% in the first quarter. Swedbank AB now owns 10,592 shares of the company’s stock worth $525,000 after purchasing an additional 345 shares during the period. 85.03% of the stock is owned by institutional investors.

About Oklo

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.