Oklo (NYSE:OKLO) Stock Price Down 3.2% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price traded down 3.2% during mid-day trading on Wednesday . The stock traded as low as $98.32 and last traded at $100.5590. 9,200,305 shares changed hands during trading, a decline of 49% from the average session volume of 18,164,684 shares. The stock had previously closed at $103.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BTIG Research restated a “neutral” rating on shares of Oklo in a research report on Tuesday, August 12th. HC Wainwright increased their price objective on shares of Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price target on shares of Oklo in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.87.

Oklo Stock Performance

The company’s fifty day moving average price is $119.76 and its 200-day moving average price is $88.67. The stock has a market cap of $15.71 billion, a P/E ratio of -186.22 and a beta of 0.73.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the previous year, the firm posted ($0.08) earnings per share. Analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 7,622 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $101.44, for a total value of $773,175.68. Following the transaction, the chief financial officer directly owned 121,913 shares in the company, valued at $12,366,854.72. This represents a 5.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the sale, the chief executive officer directly owned 9,780,098 shares of the company’s stock, valued at $1,097,913,801.48. This represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 467,800 shares of company stock valued at $51,531,823 in the last quarter. Corporate insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors have recently made changes to their positions in the company. Plancorp LLC grew its position in shares of Oklo by 1.2% in the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after buying an additional 73 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Oklo by 3.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after acquiring an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Oklo by 1.5% in the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after acquiring an additional 101 shares in the last quarter. Rossby Financial LCC grew its holdings in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its position in shares of Oklo by 3.4% during the third quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $522,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.