Oklo (NYSE:OKLO) Trading Down 3.9% – Time to Sell?

Shares of Oklo Inc. (NYSE:OKLO) fell 3.9% on Monday . The stock traded as low as $73.76 and last traded at $73.9540. 8,436,066 shares changed hands during trading, a decline of 52% from the average session volume of 17,736,588 shares. The stock had previously closed at $76.92.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several research reports. Barclays set a $146.00 price target on shares of Oklo in a research note on Monday, September 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research report on Wednesday, November 12th. Canaccord Genuity Group initiated coverage on shares of Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target on the stock. Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, UBS Group raised their price objective on Oklo from $65.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Oklo currently has a consensus rating of “Hold” and a consensus price target of $102.87.

Oklo Trading Up 0.1%

The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of -132.70 and a beta of 0.73. The company’s 50 day moving average is $100.57 and its 200-day moving average is $91.69.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period in the previous year, the business earned ($0.08) earnings per share. Research analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, CFO Richard Craig Bealmear sold 69,841 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer owned 202,072 shares in the company, valued at approximately $15,842,444.80. This represents a 25.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $82.32, for a total value of $69,148,800.00. Following the sale, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. This represents a 34.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 932,800 shares of company stock valued at $76,755,480. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Black Swift Group LLC bought a new stake in Oklo in the second quarter valued at approximately $280,000. Bouvel Investment Partners LLC acquired a new position in shares of Oklo in the 2nd quarter worth approximately $2,263,000. Prospera Financial Services Inc lifted its position in shares of Oklo by 10.0% in the 2nd quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after purchasing an additional 4,678 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in shares of Oklo in the 2nd quarter valued at $738,000. Finally, Strs Ohio acquired a new stake in shares of Oklo during the second quarter worth $1,069,000. Institutional investors and hedge funds 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.