Oklo (NYSE:OKLO) Stock Price Down 8.8% – What’s Next?

Oklo Inc. (NYSE:OKLO) dropped 8.8% on Friday . The stock traded as low as $62.07 and last traded at $63.00. Approximately 8,123,381 shares were traded during trading, a decline of 29% from the average daily volume of 11,520,633 shares. The stock had previously closed at $69.07.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OKLO shares. Wedbush reiterated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.00 to $127.00 in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating on shares of Oklo in a report on Friday, January 9th. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Finally, Texas Capital upgraded shares of Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.93.

Oklo Trading Down 8.8%

The company has a market cap of $9.84 billion, a P/E ratio of -116.67 and a beta of 0.76. The business’s 50 day simple moving average is $79.83 and its 200 day simple moving average is $95.90.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 840,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the transaction, the chief executive officer directly owned 1,580,000 shares in the company, valued at $130,065,600. The trade was a 34.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer owned 202,072 shares of the company’s stock, valued at $15,842,444.80. This represents a 25.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,750,590 shares of company stock worth $152,068,284. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after buying an additional 57,497 shares during the last quarter. AQR Capital Management LLC bought a new stake in Oklo in the 1st quarter valued at $519,000. Millennium Management LLC lifted its stake in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after purchasing an additional 9,772 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Oklo by 90.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after purchasing an additional 53,703 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

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.