Oklo (NYSE:OKLO) Shares Down 1.9% – Time to Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 1.9% during trading on Tuesday . The stock traded as low as $55.39 and last traded at $57.28. 9,242,607 shares traded hands during trading, a decline of 24% from the average session volume of 12,092,388 shares. The stock had previously closed at $58.40.

Analysts Set New Price Targets

OKLO has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price target on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Canaccord Genuity Group decreased their target price on Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Oklo in a report on Wednesday, March 18th. Finally, Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.18.

Oklo Price Performance

The firm has a market capitalization of $8.87 billion, a PE ratio of -60.69 and a beta of 1.10. The firm has a 50-day simple moving average of $65.19 and a 200-day simple moving average of $70.05.

Oklo (NYSE:OKLO) last issued its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.07) earnings per share. Equities analysts expect that Oklo Inc. will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

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 transaction, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 656,483 shares of the company’s stock, valued at approximately $33,080,178.37. The trade was a 17.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 699,971 shares of company stock worth $44,221,357. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC grew its stake in shares of Oklo by 1.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after acquiring an additional 101 shares during the period. Meriwether Wealth & Planning LLC lifted its holdings in Oklo by 2.7% during the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock valued at $326,000 after purchasing an additional 120 shares in the last quarter. NBC Securities Inc. boosted its position in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Perennial Investment Advisors LLC boosted its position in shares of Oklo by 3.4% in the third quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $522,000 after purchasing an additional 154 shares during the period. Finally, Vantage Point Financial LLC increased its stake in shares of Oklo by 0.8% in the fourth quarter. Vantage Point Financial LLC now owns 21,222 shares of the company’s stock worth $1,523,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other 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.