Oklo (NYSE:OKLO) Shares Down 1.2% - Time to Sell?

Key Points

• Oklo shares slipped 1.2% in midday trading, with the stock last changing hands at $41.21 after trading as low as $39.53. Volume was lighter than normal, with about 9.1 million shares traded versus an average of 11.8 million.
• Wall Street remains broadly upbeat on the nuclear microreactor developer, with an average rating of “Moderate Buy” and a consensus price target of $84.00. Recent analyst targets have ranged from $80 to $130 per share.
• The company continues to show losses, though it recently beat earnings expectations by reporting an EPS of -$0.19 versus the -$0.20 estimate. Insider selling has also been notable, including a CFO sale and roughly $43.9 million in insider stock sales over the last 90 days.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 1.2% during mid-day trading on Friday . The stock traded as low as $39.53 and last traded at $41.2050. Approximately 9,134,893 shares changed hands during trading, a decline of 22% from the average daily volume of 11,784,526 shares. The stock had previously closed at $41.70.

Analysts Set New Price Targets

OKLO has been the topic of several research reports. Wedbush reissued an "outperform" rating and issued a $110.00 target price on shares of Oklo in a report on Tuesday, May 26th. Bank of America started coverage on Oklo in a research note on Friday, May 22nd. They set a "buy" rating and a $80.00 price target for the company. Tigress Financial started coverage on shares of Oklo in a research report on Monday, April 27th. They issued a "buy" rating and a $130.00 price objective on the stock. HSBC started coverage on shares of Oklo in a research note on Thursday, April 23rd. They issued a "buy" rating and a $96.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Oklo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Oklo has an average rating of "Moderate Buy" and an average target price of $84.00.

Oklo Stock Performance

The business has a 50-day moving average of $58.83 and a 200 day moving average of $65.66. The stock has a market cap of $7.17 billion, a PE ratio of -49.05 and a beta of 1.14.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Equities analysts expect that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the firm'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 transaction of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares in the company, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. 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. Over the last 90 days, insiders have sold 683,629 shares of company stock valued at $43,902,208. Company insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OKLO. Meriwether Wealth & Planning LLC grew its position in shares of Oklo by 2.7% in 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 during the period. NBC Securities Inc. lifted its position in Oklo by 75.0% during the fourth 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. Vantage Point Financial LLC lifted its position in Oklo by 0.8% during the fourth quarter. Vantage Point Financial LLC now owns 21,222 shares of the company's stock worth $1,523,000 after buying an additional 169 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Oklo by 6.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,800 shares of the company's stock worth $313,000 after buying an additional 174 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in Oklo by 1.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock worth $928,000 after buying an additional 182 shares during 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.

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