Oklo (NYSE:OKLO) Shares Down 5.3% - Time to Sell?

Key Points

• Oklo shares fell 5.3% to $39.58 in midday trading, well below the 50-day and 200-day moving averages of $55.13 and $63.87, respectively. The company has a $6.89 billion market capitalization and a negative price-to-earnings ratio.
• Wall Street’s consensus view remains positive, with a “Moderate Buy” rating and an average price target of $88.00, although analyst targets range widely from $55 to $130.
• Insiders have sold 683,629 shares worth about $43.9 million over the past 90 days, while institutional investors own 85.03% of the stock. Oklo reported a quarterly loss of $0.19 per share and analysts expect a full-year loss of $0.74 per share.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $37.80 and last traded at $39.5770. Approximately 8,588,091 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 11,631,132 shares. The stock had previously closed at $41.81.

Wall Street Analyst Weigh In

OKLO has been the subject of several research reports. Bank of America initiated coverage on shares of Oklo in a research report on Friday, May 22nd. They set a "buy" rating and a $80.00 price target for the company. Truist Financial assumed coverage on shares of Oklo in a report on Monday, July 13th. They issued a "hold" rating and a $55.00 price objective on the stock. Wedbush restated an "outperform" rating and set a $110.00 target price on shares of Oklo in a research report on Tuesday, May 26th. Tigress Financial began coverage on shares of Oklo in a report on Monday, April 27th. They set a "buy" rating and a $130.00 target price for the company. Finally, Guggenheim initiated coverage on shares of Oklo in a research report on Thursday, June 25th. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Oklo Price Performance

The company has a 50-day moving average of $55.13 and a two-hundred day moving average of $63.87. The company has a market capitalization of $6.89 billion, a PE ratio of -47.11 and a beta of 1.14.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, research analysts anticipate that Oklo Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company's stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the company'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 completion of the transaction, the insider owned 36,175 shares of the company's stock, valued at approximately $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 683,629 shares of company stock valued at $43,902,208. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. boosted its holdings in 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 raised its holdings in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company's stock valued at $25,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC raised its holdings in Oklo by 356.2% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company's stock valued at $26,000 after acquiring an additional 285 shares during the period. Gilpin Wealth Management LLC bought a new stake in Oklo during the fourth quarter valued at about $29,000. Finally, SHP Wealth Management purchased a new position in shares of Oklo in the fourth quarter valued at about $32,000. 85.03% of the stock is currently owned by institutional investors.

About Oklo

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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