Oklo (NYSE:OKLO) Stock Price Down 5.9% - Time to Sell?

Key Points

• Oklo (NYSE:OKLO) shares slid about 5.9% mid-day to roughly $45.88, trading ~1.19M shares—well below the ~10.1M average daily volume.
• Wall Street consensus is a “Moderate Buy” with a $84.30 average price target, but several firms recently cut targets while Bank of America upgraded to a buy and raised its target to $127.
• Oklo missed quarterly EPS expectations (reported ($0.27) vs. est. ($0.17)) and faces an expected -8.2 EPS for the year; insiders sold ~1.24M shares in the last three months, even as institutional investors own about 85% of the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price was down 5.9% during mid-day trading on Tuesday . The stock traded as low as $45.17 and last traded at $45.8780. Approximately 1,191,335 shares changed hands during trading, a decline of 88% from the average daily volume of 10,096,794 shares. The stock had previously closed at $48.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OKLO shares. Craig Hallum reiterated a "hold" rating on shares of Oklo in a report on Wednesday, March 18th. Bank of America raised Oklo from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Needham & Company LLC dropped their price target on Oklo from $135.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Canaccord Genuity Group dropped their price target on Oklo from $175.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Finally, The Goldman Sachs Group dropped their price target on Oklo from $91.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.30.

Oklo Trading Down 4.7%

The company has a 50 day moving average of $63.16 and a 200 day moving average of $92.40. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -64.56 and a beta of 0.93.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same quarter last year, the business earned ($0.74) earnings per share. As a group, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oklo news, CFO Richard Craig Bealmear sold 72,090 shares of the business's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the transaction, the chief financial officer owned 386,008 shares of the company's stock, valued at approximately $23,160,480. The trade was a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 231,657 shares of the business's stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total value of $22,991,957.25. Following the completion of the transaction, the chief executive officer directly owned 827,019 shares in the company, valued at approximately $82,081,635.75. This represents a 21.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,238,766 shares of company stock worth $93,585,861. Insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several large investors have recently made changes to their positions in OKLO. Royal Bank of Canada lifted its stake in shares of Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock valued at $2,009,000 after acquiring an additional 57,497 shares during the period. AQR Capital Management LLC bought a new stake in Oklo in the first quarter valued at about $519,000. Millennium Management LLC increased its holdings in Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after purchasing an additional 570,532 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Oklo by 165.6% in the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company's stock valued at $339,000 after purchasing an additional 9,772 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Oklo by 90.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after purchasing an additional 53,703 shares during the last quarter. Institutional investors and hedge funds 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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