Oklo (NYSE:OKLO) Stock Price Down 1.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price was down 1.5% on Thursday. The company traded as low as $37.56 and last traded at $38.2520. 7,316,369 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 11,292,212 shares. The stock had previously closed at $38.82.

Analyst Upgrades and Downgrades

OKLO has been the topic of several recent analyst reports. UBS Group lowered their price target on Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Citigroup dropped their price target on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Truist Financial decreased their price objective on shares of Oklo from $55.00 to $51.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. Finally, Piper Sandler began coverage on shares of Oklo in a report on Tuesday, September 8th. They issued an “overweight” rating and a $55.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.26.

Oklo Price Performance

The stock has a market capitalization of $7.12 billion, a P/E ratio of -40.69 and a beta of 1.18. The stock’s 50-day simple moving average is $41.40 and its 200 day simple moving average is $53.03.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. Oklo’s revenue for the quarter was up 11900.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. As a group, analysts expect that Oklo Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, General Counsel Vivek Narayanadas sold 3,264 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $129,809.28. Following the transaction, the general counsel owned 7,822 shares in the company, valued at approximately $311,080.94. This trade represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Jansen sold 6,354 shares of Oklo stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $36.67, for a total value of $233,001.18. Following the sale, the director directly owned 6,000 shares of the company’s stock, valued at approximately $220,020. The trade was a 51.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 362,030 shares of company stock worth $16,851,123. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. SHP Wealth Management bought a new position in Oklo during the fourth quarter worth about $32,000. Costello Asset Management INC grew its position in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Strategic Advocates LLC increased its holdings in shares of Oklo by 70.9% during the fourth quarter. Strategic Advocates LLC now owns 663 shares of the company’s stock worth $47,000 after purchasing an additional 275 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of Oklo in the first quarter valued at approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.