Oklo (NYSE:OKLO) Shares Down 4.6% - Time to Sell?

Key Points

• Oklo Inc. shares fell 4.6% to $62.38, with trading volume down 71% from its average, suggesting investor concern.
• Analyst ratings for Oklo are mixed; with two maintaining a Strong Buy rating, while BNP Paribas set a strong sell target of $14.
• The company recently reported a loss of ($0.18) EPS, missing estimates, and analysts project an average annual loss of -8.2 EPS for the fiscal year.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares fell 4.6% on Wednesday . The company traded as low as $61.11 and last traded at $62.38. 5,210,930 shares changed hands during trading, a decline of 71% from the average session volume of 18,023,922 shares. The stock had previously closed at $65.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OKLO. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. BNP Paribas raised shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the company an "overweight" rating in a research report on Tuesday, July 15th. BNP Paribas Exane initiated coverage on shares of Oklo in a research report on Friday, July 25th. They set an "underperform" rating and a $14.00 price target for the company. Finally, Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $63.90.

Oklo Price Performance

The stock's 50-day moving average is $65.43 and its two-hundred day moving average is $44.90. The stock has a market cap of $9.54 billion, a P/E ratio of -153.53 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). On average, analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the sale, the chief executive officer owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director directly owned 200,000 shares in the company, valued at approximately $10,970,000. This trade represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock worth $35,066,500 in the last three months. 18.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. acquired a new position in Oklo in the second quarter valued at approximately $25,000. Private Trust Co. NA acquired a new position in Oklo in the second quarter valued at approximately $25,000. Fourth Dimension Wealth LLC boosted its holdings in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Oklo in the second quarter valued at approximately $28,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

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