Oklo (NYSE:OKLO) Trading Down 2.9% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares traded down 2.9% during trading on Tuesday . The stock traded as low as $71.60 and last traded at $71.95. 8,122,448 shares were traded during trading, a decline of 54% from the average session volume of 17,692,855 shares. The stock had previously closed at $74.09.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKLO. Needham & Company LLC started coverage on shares of Oklo in a research note on Friday, December 5th. They set a “buy” rating and a $135.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Oklo in a research note on Thursday, September 25th. They set a “neutral” rating and a $117.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. UBS Group boosted their price objective on Oklo from $65.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Finally, Canaccord Genuity Group started coverage on Oklo in a research report on Thursday, October 9th. They issued a “buy” rating and a $175.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Oklo currently has a consensus rating of “Hold” and a consensus target price of $102.87.

Oklo Trading Down 2.9%

The business has a 50-day simple moving average of $101.91 and a 200 day simple moving average of $91.63. The stock has a market cap of $11.24 billion, a P/E ratio of -133.24 and a beta of 0.73.

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

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 840,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the sale, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. This represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Craig Bealmear sold 69,841 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the sale, the chief financial officer owned 202,072 shares in the company, valued at $15,842,444.80. This represents a 25.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 932,800 shares of company stock valued at $76,755,480 in the last 90 days. Insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caldwell Sutter Capital Inc. purchased a new stake in Oklo in the second quarter worth $25,000. Private Trust Co. NA bought a new position in shares of Oklo in the second quarter worth approximately $25,000. Fourth Dimension Wealth LLC increased its holdings in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in Oklo in the 3rd quarter worth about $27,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Oklo during the second quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.