Oklo (NYSE:OKLO) Stock Price Down 5.5% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) fell 5.5% on Tuesday . The company traded as low as $41.17 and last traded at $41.4620. Approximately 7,684,637 shares changed hands during trading, a decline of 33% from the average daily volume of 11,462,627 shares. The stock had previously closed at $43.88.

Analysts Set New Price Targets

OKLO has been the topic of several research reports. HSBC began coverage on Oklo in a research note on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target on the stock. Barclays decreased their price objective on Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Canaccord Genuity Group lowered their price objective on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Bank of America began coverage on Oklo in a research note on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price for the company. Finally, UBS Group decreased their price target on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. One equities research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.03.

Oklo Stock Down 5.5%

The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -44.11 and a beta of 1.17. The business has a fifty day simple moving average of $48.54 and a two-hundred day simple moving average of $58.55.

Oklo (NYSE:OKLO) last posted its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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. Oklo’s revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) EPS. As a group, equities analysts predict that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the completion of the transaction, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This trade represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the transaction, the insider owned 36,175 shares in the company, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 483,629 shares of company stock valued at $29,855,608. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. raised its stake in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Costello Asset Management INC grew its position in 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 acquiring an additional 200 shares during the last quarter. Gilpin Wealth Management LLC bought a new stake in Oklo during the 4th quarter worth approximately $29,000. SHP Wealth Management acquired a new stake in Oklo during the 4th quarter valued at $32,000. Finally, Ascentis Independent Advisors acquired a new stake in Oklo during the 1st quarter valued at $33,000. 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.