Oklo (NYSE:OKLO) Stock Price Down 9.1% – Time to Sell?

by · The Markets Daily

Oklo Inc. (NYSE:OKLOGet Free Report)’s share price was down 9.1% during mid-day trading on Monday . The company traded as low as $44.88 and last traded at $45.6770. Approximately 10,640,112 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 10,443,906 shares. The stock had previously closed at $50.23.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKLO. B. Riley Financial decreased their target price on shares of Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Barclays reduced their price target on Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. The Goldman Sachs Group decreased their price objective on Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Texas Capital raised Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Citigroup dropped their target price on Oklo from $95.00 to $73.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $84.30.

Read Our Latest Stock Report on Oklo

Oklo Stock Performance

The business’s 50 day moving average is $68.12 and its 200 day moving average is $94.27. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of -63.44 and a beta of 0.81.

Oklo (NYSE:OKLOGet Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter last year, the business posted ($0.74) EPS. Sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In related news, CEO Jacob Dewitte sold 72,960 shares of the company’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 $4,377,600.00. Following the transaction, the chief executive officer directly owned 751,533 shares of the company’s stock, valued at $45,091,980. This represents a 8.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief financial officer owned 386,008 shares of the company’s stock, valued at $23,160,480. This trade represents a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,222,424 shares of company stock valued at $100,739,512 over the last ninety days. 18.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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% during the third 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 during the last quarter. State Street Corp lifted its position 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 period. Van ECK Associates Corp lifted its position in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares during the period. Finally, Norges Bank purchased a new stake in Oklo in the fourth quarter valued at $73,786,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Company Profile

(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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