Oklo (NYSE:OKLO) Trading Down 12.6% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares traded down 12.6% on Wednesday . The stock traded as low as $64.00 and last traded at $68.20. 18,804,833 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 14,194,327 shares. The stock had previously closed at $78.00.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Canaccord Genuity Group began coverage on shares of Oklo in a research note on Thursday, October 9th. They issued a “buy” rating and a $175.00 price objective for the company. Wedbush reissued an “outperform” rating on shares of Oklo in a research note on Friday, January 9th. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research report on Friday, January 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $106.00 price target on shares of Oklo in a research note on Friday, January 9th. Finally, Zacks Research downgraded shares of Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.20.

Oklo Stock Down 12.6%

The business’s 50 day moving average is $88.68 and its 200 day moving average is $97.04. The company has a market cap of $10.66 billion, a P/E ratio of -126.30 and a beta of 0.76.

Oklo (NYSE:OKLO) last posted its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, equities research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In other news, CFO Richard Craig Bealmear sold 5,159 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $76.97, for a total value of $397,088.23. Following the completion of the sale, the chief financial officer owned 196,913 shares of the company’s stock, valued at $15,156,393.61. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 26,740 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $111.38, for a total value of $2,978,301.20. Following the transaction, the chief executive officer owned 808,197 shares in the company, valued at approximately $90,016,981.86. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,552,800 shares of company stock valued at $137,543,426. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently added to or reduced their stakes in the business. Knuff & Co LLC purchased a new stake in shares of Oklo during the fourth quarter worth about $144,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Oklo in the 4th quarter valued at approximately $302,000. Swiss Life Asset Management Ltd boosted its stake in Oklo by 539.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 30,625 shares of the company’s stock worth $2,198,000 after purchasing an additional 25,832 shares in the last quarter. Stiles Financial Services Inc grew its position in Oklo by 91.3% during the 4th quarter. Stiles Financial Services Inc now owns 9,047 shares of the company’s stock worth $649,000 after purchasing an additional 4,317 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Oklo by 44.2% during the 4th quarter. International Assets Investment Management LLC now owns 9,893 shares of the company’s stock worth $710,000 after purchasing an additional 3,033 shares during the last quarter. Institutional investors and hedge funds 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.