Oklo (NYSE:OKLO) Trading Down 5.1% - Should You Sell?

Key Points

• Oklo shares fell 5.1% to $38.51 in midday trading, below both their 50-day ($45.22) and 200-day ($56.15) moving averages. The company has a $7.16 billion market capitalization and a negative price-to-earnings ratio.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $85.03, although some firms recently lowered their targets. Oklo’s latest quarterly loss of $0.28 per share missed expectations, despite revenue rising 11,900% year over year to $1.21 million.
• Company insiders sold 216,175 shares worth approximately $11.2 million over the past 90 days, while institutional investors own a substantial 85.03% of the stock. Oklo is developing advanced nuclear microreactors, including its 1.5-megawatt Aurora reactor.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares traded down 5.1% during mid-day trading on Tuesday . The company traded as low as $38.05 and last traded at $38.51. Approximately 7,762,048 shares were traded during trading, a decline of 32% from the average session volume of 11,358,886 shares. The stock had previously closed at $40.57.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OKLO shares. Barclays decreased their target price on Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of Oklo in a research note on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on shares of Oklo in a research note on Monday, May 11th. They issued a "neutral" rating and a $83.00 target price on the stock. Citigroup dropped their target price on shares of Oklo from $76.00 to $57.50 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, Guggenheim assumed coverage on Oklo in a research report on Thursday, June 25th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus price target of $85.03.

Oklo Trading Down 5.1%

The business's 50-day simple moving average is $45.22 and its 200-day simple moving average is $56.15. The company has a market capitalization of $7.16 billion, a PE ratio of -40.97 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts' expectations of $0.09 million. Oklo's revenue was up 11900.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. Sell-side analysts forecast that Oklo Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares in the company, valued at approximately $27,008,942.40. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Vivek Narayanadas sold 3,264 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $129,809.28. Following the sale, the general counsel directly owned 7,822 shares in the company, valued at $311,080.94. The trade was a 29.44% decrease in their position. The SEC filing for this sale provides additional information. 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 216,175 shares of company stock valued at $11,228,709 over the last ninety days. Company insiders own 12.70% of the company's stock.

Institutional Trading of Oklo

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in Oklo by 6,518.7% in the second quarter. California State Teachers Retirement System now owns 8,682,908 shares of the company's stock valued at $454,377,000 after buying an additional 8,551,720 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock valued at $283,902,000 after acquiring an additional 481,288 shares during the period. State Street Corp increased its stake in shares of Oklo by 23.6% in the 4th quarter. State Street Corp now owns 3,060,220 shares of the company's stock valued at $219,601,000 after purchasing an additional 584,184 shares in the last quarter. Geode Capital Management LLC raised its holdings in Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company's stock worth $201,671,000 after purchasing an additional 185,265 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Oklo by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company's stock worth $83,262,000 after purchasing an additional 90,213 shares during the period. 85.03% of the stock is owned by hedge funds and other 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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