Oklo (NYSE:OKLO) Trading Down 4.4% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price fell 4.4% during trading on Friday . The stock traded as low as $44.32 and last traded at $44.3870. 7,929,042 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 11,516,798 shares. The stock had previously closed at $46.45.

Analyst Ratings Changes

OKLO has been the subject of several research analyst reports. Bank of America assumed coverage on shares of Oklo in a report on Friday, May 22nd. They set a “buy” rating and a $80.00 target price for the company. Tigress Financial initiated coverage on Oklo in a research report on Monday, April 27th. They issued a “buy” rating and a $130.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price target on shares of Oklo in a report on Wednesday, May 13th. Truist Financial reduced their price target on Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Finally, Citigroup lowered their price objective on Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.03.

Oklo Price Performance

The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of -47.22 and a beta of 1.17. The business’s 50-day moving average price is $48.84 and its two-hundred day moving average price is $59.00.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Oklo’s quarterly revenue was up 11900.0% compared to the same quarter last year. As a group, research analysts predict that Oklo Inc. will post -0.9 EPS for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares in the company, valued at $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 483,629 shares of company stock valued at $29,855,608. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several large investors have recently made changes to their positions in OKLO. Royal Bank of Canada raised its position in 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 purchasing an additional 57,497 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Oklo during the 1st quarter worth $519,000. Millennium Management LLC raised its holdings in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after buying an additional 570,532 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after buying an additional 9,772 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Oklo by 90.9% in 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 buying an additional 53,703 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.