Oklo (NYSE:OKLO) Hits New 12-Month Low – Time to Sell?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 10th. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. Piper Sandler reduced their price objective on shares of Oklo from $55.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. Finally, Citigroup lowered their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.09.

Oklo Stock Down 3.0%

The business has a fifty day moving average of $38.60 and a 200 day moving average of $50.26. The firm has a market cap of $5.05 billion, a P/E 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 for the quarter, missing the consensus estimate 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. During the same quarter last year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was up 11900.0% on a year-over-year basis. On average, sell-side analysts expect that Oklo Inc. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John M. Jansen sold 6,354 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $36.67, for a total value of $233,001.18. Following the completion of the sale, the director directly owned 6,000 shares of the company’s stock, valued at $220,020. This represents a 51.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 1,775 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $37.39, for a total transaction of $66,367.25. Following the completion of the sale, the insider owned 46,787 shares in the company, valued at $1,749,365.93. This represents a 3.66% decrease in their ownership of the stock. 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 a total of 287,994 shares of company stock worth $10,863,590 over the last quarter. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OKLO. Costello Asset Management INC raised its stake in Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after buying an additional 200 shares during the period. SHP Wealth Management bought a new position in Oklo during the fourth quarter worth about $32,000. Ascentis Independent Advisors acquired a new position in Oklo in the first quarter valued at about $33,000. TD Waterhouse Canada Inc. grew its stake in Oklo by 200.5% in the third quarter. TD Waterhouse Canada Inc. now owns 1,124 shares of the company’s stock valued at $41,000 after acquiring an additional 750 shares during the period. Finally, GK Wealth Management LLC acquired a new position in Oklo in the third quarter valued at about $69,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.