Oklo (NYSE:OKLO) Trading Down 2.3% – Time to Sell?

by · The Markets Daily

Oklo Inc. (NYSE:OKLOGet Free Report) was down 2.3% on Tuesday . The company traded as low as $60.04 and last traded at $63.20. Approximately 5,954,634 shares traded hands during trading, a decline of 47% from the average daily volume of 11,284,658 shares. The stock had previously closed at $64.68.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of recent research reports. Bank of America raised Oklo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $111.00 to $127.00 in a research note on Wednesday, January 21st. Citigroup reissued a “neutral” rating on shares of Oklo in a report on Monday, November 24th. B. Riley Financial raised their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a report on Friday, January 9th. Finally, Zacks Research cut shares of Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Two research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.93.

Read Our Latest Research Report on OKLO

Oklo Stock Performance

The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of -117.04 and a beta of 0.81. The business has a 50-day moving average of $79.06 and a 200-day moving average of $96.03.

Insider Transactions 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 shares were sold at an average price of $76.93, for a total value of $748,221.18. Following the sale, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 60,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 748,197 shares in the company, valued at approximately $55,703,266.65. This represents a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,744,726 shares of company stock valued at $151,549,790. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fourth Dimension Wealth LLC grew its stake in shares of Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares in the last quarter. NBC Securities Inc. lifted its stake in Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Oklo by 356.3% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 285 shares during the period. Armstrong Advisory Group Inc. purchased a new position in Oklo during the 3rd quarter valued at about $27,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Oklo in the 2nd quarter valued at about $28,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

(Get Free Report)

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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