Oklo (NYSE:OKLO) Shares Down 3% - Time to Sell?

Key Points

• Oklo shares fell 3% to approximately $27.14, well below their 50-day and 200-day moving averages of $38.95 and $50.41, respectively.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $82.09, although several firms recently lowered their targets.
• Oklo missed quarterly EPS expectations, reporting a loss of $0.28 per share versus the projected $0.16 loss; insiders have also sold roughly $10.9 million worth of stock over the past three months.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 3% during trading on Monday. The company traded as low as $26.82 and last traded at $27.1350. Approximately 8,399,713 shares changed hands during trading, a decline of 25% from the average session volume of 11,173,734 shares. The stock had previously closed at $27.97.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OKLO shares. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Oklo in a research report on Monday, August 10th. Truist Financial set a $51.00 price target on Oklo in a research report on Monday, September 28th. Barclays lowered their price target on Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of Oklo in a research note on Friday, August 7th. Finally, Piper Sandler cut their price objective on Oklo from $55.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.09.

Oklo Stock Performance

The company's fifty day moving average is $38.95 and its two-hundred day moving average is $50.41. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -28.87 and a beta of 1.20.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to analysts' expectations of $0.09 million. The firm's revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) EPS. As a group, analysts forecast that Oklo Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other Oklo news, Director John M. Jansen sold 6,354 shares of Oklo stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $36.67, for a total transaction of $233,001.18. Following the sale, the director directly owned 6,000 shares in the company, valued at $220,020. The trade was a 51.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Vivek Narayanadas sold 3,264 shares of Oklo stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total value of $129,809.28. Following the sale, the general counsel owned 7,822 shares in the company, valued at $311,080.94. This represents a 29.44% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 287,994 shares of company stock valued at $10,863,590 in the last three months. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

A number of hedge funds have recently made changes to their positions in OKLO. Sei Investments Co. raised its stake in Oklo by 344.6% during the first quarter. Sei Investments Co. now owns 50,096 shares of the company's stock valued at $2,484,000 after buying an additional 38,829 shares in the last quarter. Bank of America Corp DE lifted its holdings in Oklo by 55.3% during the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock worth $30,760,000 after buying an additional 220,976 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Oklo in the 2nd quarter worth approximately $2,096,000. Hsbc Holdings PLC grew its position in shares of Oklo by 1,184.4% in the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company's stock worth $8,063,000 after acquiring an additional 103,623 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of Oklo in the 1st quarter worth approximately $2,414,000. Institutional investors and hedge funds own 85.03% of the company's stock.

About Oklo

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.

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