Oklo (NYSE:OKLO) Shares Down 5.2% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price dropped 5.2% during mid-day trading on Friday . The stock traded as low as $38.83 and last traded at $38.9370. Approximately 8,758,627 shares traded hands during trading, a decline of 24% from the average daily volume of 11,570,377 shares. The stock had previously closed at $41.09.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OKLO shares. Royal Bank Of Canada set a $80.00 target price on Oklo in a research note on Friday, May 22nd. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Tigress Financial began coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 price target for the company. Truist Financial started coverage on Oklo in a report on Monday, July 13th. They set a “hold” rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Stock Performance

The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -46.35 and a beta of 1.14. The firm’s 50 day moving average is $53.26 and its 200-day moving average is $62.42.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the company earned ($0.07) EPS. As a group, research analysts predict that Oklo Inc. will post -0.74 EPS for the current year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This represents a 22.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the completion of the transaction, the chief executive officer directly 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. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

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