Oklo (NYSE:OKLO) Trading Down 5.6% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) were down 5.6% during trading on Friday . The company traded as low as $62.68 and last traded at $63.8630. Approximately 7,037,466 shares traded hands during trading, a decline of 42% from the average daily volume of 12,186,780 shares. The stock had previously closed at $67.64.

Analyst Ratings Changes

A number of brokerages have issued reports on OKLO. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Wedbush restated an “outperform” rating on shares of Oklo in a research note on Friday, January 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and an average target price of $103.20.

Oklo Price Performance

The stock has a market cap of $9.98 billion, a P/E ratio of -118.26 and a beta of 0.76. The firm’s fifty day moving average price is $81.43 and its two-hundred day moving average price is $96.39.

Insider Activity

In related news, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $74.45, for a total value of $4,467,000.00. Following the sale, the chief executive officer directly owned 748,197 shares of the company’s stock, valued at $55,703,266.65. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Craig Bealmear sold 9,726 shares of Oklo stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,750,590 shares of company stock worth $152,068,284. Insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oklo by 71.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. boosted 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 boosted its holdings in shares of Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares in the last quarter. 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.