Oklo (NYSE:OKLO) Stock Price Down 1.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares traded down 1.4% on Wednesday . The company traded as low as $65.37 and last traded at $67.72. 10,406,558 shares traded hands during trading, a decline of 12% from the average session volume of 11,819,998 shares. The stock had previously closed at $68.70.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. B. Riley Financial cut their price target on shares of Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. UBS Group cut their target price on Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. started coverage on Oklo in a research report on Monday, May 11th. They set a “neutral” rating and a $83.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.06.

Oklo Price Performance

The business’s fifty day moving average is $61.60 and its 200-day moving average is $74.83. The firm has a market cap of $11.64 billion, a PE ratio of -79.83 and a beta of 1.16.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Analysts forecast that Oklo Inc. will post -0.78 EPS for the current year.

Insider Activity at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 72,090 shares of the firm’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 completion of the sale, the chief financial officer directly owned 386,008 shares of the company’s stock, valued at $23,160,480. This trade represents a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total value of $7,054,600.00. Following the completion of the sale, the chief executive officer owned 656,483 shares in the company, valued at approximately $33,080,178.37. The trade was a 17.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 819,588 shares of company stock worth $49,774,300. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. Western Wealth Management LLC purchased a new stake in Oklo during the first quarter valued at about $130,000. Silicon Valley Capital Partners boosted its position in Oklo by 155.8% during the first quarter. Silicon Valley Capital Partners now owns 1,862 shares of the company’s stock worth $92,000 after purchasing an additional 1,134 shares during the period. Bank of America Corp DE increased its stake in shares of Oklo by 55.3% in the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after purchasing an additional 220,976 shares in the last quarter. MSA Advisors LLC purchased a new position in shares of Oklo in the first quarter worth about $227,000. Finally, Amundi raised its position in shares of Oklo by 59.0% in the first quarter. Amundi now owns 164,824 shares of the company’s stock valued at $8,174,000 after purchasing an additional 61,161 shares during the period. Hedge funds and other institutional investors 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.