Oklo (NYSE:OKLO) Stock Price Down 7.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO) was down 7.4% on Tuesday . The stock traded as low as $69.13 and last traded at $69.46. Approximately 7,992,496 shares traded hands during trading, a decline of 41% from the average daily volume of 13,610,258 shares. The stock had previously closed at $75.05.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $106.00 price objective on shares of Oklo in a research note on Friday, January 9th. Wedbush restated an “outperform” rating on shares of Oklo in a research note on Friday, January 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 price target on shares of Oklo in a research report on Wednesday, November 12th. UBS Group reissued a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.20.

Oklo Trading Down 7.4%

The business has a 50-day moving average price of $87.08 and a 200 day moving average price of $97.12. The stock has a market capitalization of $10.85 billion, a P/E ratio of -128.63 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period last year, the firm earned ($0.08) EPS. On average, sell-side analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other news, CFO Richard Craig Bealmear sold 9,726 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $76.93, for a total transaction of $748,221.18. Following the transaction, the chief financial officer owned 196,913 shares of the company’s stock, valued at approximately $15,148,517.09. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $74.45, for a total transaction of $4,467,000.00. Following the transaction, the chief executive officer directly owned 748,197 shares of the company’s stock, valued at $55,703,266.65. The trade was a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,762,526 shares of company stock valued at $153,283,847 over the last ninety days. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Black Swift Group LLC purchased a new position in shares of Oklo during the 2nd quarter worth approximately $280,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Oklo by 48.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock worth $18,403,000 after purchasing an additional 54,080 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Oklo by 10.0% during the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after buying an additional 4,678 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in shares of Oklo in the second quarter valued at $738,000. Finally, Strs Ohio purchased a new stake in shares of Oklo in the 2nd quarter valued at $1,069,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.