Oklo (NYSE:OKLO) Trading Down 4.6% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares were down 4.6% during trading on Thursday . The stock traded as low as $91.38 and last traded at $91.55. Approximately 11,146,229 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 15,302,351 shares. The stock had previously closed at $95.97.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OKLO. Canaccord Genuity Group began coverage on shares of Oklo in a report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price objective for the company. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. William Blair reiterated an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 target price on shares of Oklo in a report on Wednesday, November 12th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Oklo in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Oklo has an average rating of “Hold” and an average price target of $102.13.

Oklo Stock Performance

The firm has a 50 day simple moving average of $92.13 and a two-hundred day simple moving average of $93.90. The stock has a market cap of $14.30 billion, a P/E ratio of -169.54 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter last year, the company posted ($0.08) EPS. As a group, equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 26,740 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $111.38, for a total value of $2,978,301.20. Following the completion of the transaction, the chief executive officer directly owned 808,197 shares in the company, valued at $90,016,981.86. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $76.97, for a total value of $397,088.23. Following the sale, the chief financial officer directly owned 196,913 shares in the company, valued at approximately $15,156,393.61. The trade was a 2.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,552,800 shares of company stock valued at $137,543,426. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares in the last quarter. State Street Corp lifted its stake in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after buying an additional 1,316,867 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

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.