Oklo (NYSE:OKLO) Shares Down 8.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO) traded down 8.4% during trading on Wednesday. The stock traded as low as $28.86 and last traded at $29.0990. 13,204,760 shares were traded during trading, an increase of 18% from the average daily volume of 11,195,461 shares. The stock had previously closed at $31.78.

Wall Street Analyst Weigh In

Several analysts have issued reports on OKLO shares. Barclays cut their target price on Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Oklo in a research report on Monday, August 10th. UBS Group reduced their price target on Oklo from $55.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, September 25th. Finally, Truist Financial set a $51.00 target price on Oklo in a research report on Monday, September 28th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.44.

Oklo Stock Performance

The firm has a market capitalization of $5.16 billion, a PE ratio of -29.46 and a beta of 1.20. The stock has a fifty day moving average price of $39.36 and a 200-day moving average price of $50.54.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. The company’s revenue was up 11900.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) EPS. Research analysts expect that Oklo Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, insider John Hanson sold 1,100 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $37.39, for a total transaction of $41,129.00. Following the sale, the insider directly owned 361,350 shares of the company’s stock, valued at approximately $13,510,876.50. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob DeWitte sold 40,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $36.19, for a total transaction of $1,447,600.00. Following the sale, the chief executive officer owned 391,533 shares in the company, valued at approximately $14,169,579.27. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 287,994 shares of company stock worth $10,863,590. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SHP Wealth Management acquired a new stake in Oklo in the 4th quarter worth about $32,000. Costello Asset Management INC raised its holdings in shares of Oklo by 66.7% during 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. Ascentis Independent Advisors acquired a new position in shares of Oklo during the first quarter valued at approximately $33,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Oklo by 45.5% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,488 shares of the company’s stock valued at $107,000 after acquiring an additional 465 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Oklo by 201.0% in the second quarter. MCF Advisors LLC now owns 1,559 shares of the company’s stock valued at $82,000 after acquiring an additional 1,041 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 an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.

The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.