Oklo (NYSE:OKLO) Shares Down 1.8% - Should You Sell?

Key Points

• Oklo shares fell 1.8% to about $42.21, well below their 50-day and 200-day moving averages of $51.78 and $61.04, respectively. The company has a $7.34 billion market capitalization and remains unprofitable.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $88, although individual targets range from $76 to $96.
• Insiders have sold approximately $29.9 million of stock over the past 90 days, while institutional investors own 85.03% of the company. Oklo reported a quarterly loss of $0.19 per share, narrowly beating estimates.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 1.8% during trading on Thursday . The company traded as low as $41.60 and last traded at $42.2070. Approximately 10,667,998 shares were traded during trading, a decline of 7% from the average daily volume of 11,491,814 shares. The stock had previously closed at $42.99.

Analyst Ratings Changes

A number of equities analysts have recently commented on OKLO shares. Citigroup raised their price objective on shares of Oklo from $73.50 to $76.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Bank of America assumed coverage on shares of Oklo in a report on Friday, May 22nd. They set a "buy" rating and a $80.00 target price on the stock. Barclays cut their price target on shares of Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. HSBC assumed coverage on Oklo in a report on Thursday, April 23rd. They set a "buy" rating and a $96.00 price objective on the stock. Finally, Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Oklo Stock Performance

The stock has a fifty day simple moving average of $51.78 and a 200 day simple moving average of $61.04. The firm has a market cap of $7.34 billion, a P/E ratio of -50.25 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly 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 period in the prior year, the company earned ($0.07) EPS. Research analysts predict that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at Oklo

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the sale, the chief financial officer directly owned 397,642 shares of the company's stock, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 483,629 shares of company stock worth $29,855,608. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On Oklo

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in shares of Oklo during the 2nd quarter valued at about $24,532,000. Handelsbanken Fonder AB raised its position in shares of Oklo by 43.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 52,900 shares of the company's stock valued at $2,768,000 after purchasing an additional 16,100 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Oklo by 12.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 36,609 shares of the company's stock valued at $1,916,000 after purchasing an additional 4,187 shares during the period. Gradient Investments LLC lifted its stake in shares of Oklo by 38.6% during the 2nd quarter. Gradient Investments LLC now owns 34,335 shares of the company's stock valued at $1,797,000 after buying an additional 9,570 shares in the last quarter. Finally, Evanson Financial LLC bought a new position in Oklo in the 2nd quarter worth $232,000. 85.03% of the stock is currently owned by institutional investors.

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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