Oklo (NYSE:OKLO) Stock Price Down 1.2% – Time to Sell?

Oklo Inc. (NYSE:OKLOGet Free Report)’s stock price fell 1.2% during mid-day trading on Wednesday . The stock traded as low as $44.16 and last traded at $45.6820. 6,852,603 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 11,806,560 shares. The stock had previously closed at $46.24.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

Analyst Ratings Changes

A number of analysts recently commented on the company. B. Riley Financial dropped their price objective on Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. JPMorgan Chase & Co. started coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Guggenheim initiated coverage on shares of Oklo in a research report on Thursday, June 25th. They issued a “neutral” rating for the company. Finally, Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.00.

View Our Latest Research Report on OKLO

Oklo Price Performance

The firm has a market cap of $7.95 billion, a PE ratio of -54.38 and a beta of 1.14. The stock has a 50-day moving average price of $60.11 and a 200 day moving average price of $66.16.

Oklo (NYSE:OKLOGet Free Report) last released its 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 in the previous year, the company earned ($0.07) EPS. As a group, equities research analysts anticipate that Oklo Inc. will post -0.73 earnings per share for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the transaction, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This trade represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 683,629 shares of company stock worth $43,902,208 in the last three months. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. raised its position in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. Costello Asset Management INC lifted its holdings in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Oklo by 356.2% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 285 shares in the last quarter. Gilpin Wealth Management LLC purchased a new stake in Oklo during the 4th quarter worth $29,000. Finally, SHP Wealth Management purchased a new stake in Oklo during the 4th quarter worth $32,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Company Profile

(Get Free Report)

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.

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