Oklo (NYSE:OKLO) Trading Down 4.4% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price fell 4.4% during trading on Friday . The company traded as low as $44.32 and last traded at $44.3870. 7,929,042 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 11,516,798 shares. The stock had previously closed at $46.45.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Guggenheim started coverage on Oklo in a report on Thursday, June 25th. They set a “neutral” rating for the company. Tigress Financial assumed coverage on shares of Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. Barclays dropped their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Bank of America assumed coverage on shares of Oklo in a report on Friday, May 22nd. They set a “buy” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.03.

Oklo Price Performance

The business’s fifty day simple moving average is $49.12 and its 200 day simple moving average is $59.10. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -47.22 and a beta of 1.17.

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

Insiders Place Their Bets

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This trade represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the sale, the chief executive officer owned 511,533 shares in the company, valued at approximately $27,008,942.40. This represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 483,629 shares of company stock valued at $29,855,608 over the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in OKLO. NBC Securities Inc. grew 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 worth $25,000 after purchasing an additional 150 shares in the last quarter. Costello Asset Management INC lifted its stake in shares of Oklo by 66.7% in 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 period. Gilpin Wealth Management LLC bought a new position in shares of Oklo in the fourth quarter valued at approximately $29,000. SHP Wealth Management acquired a new position in shares of Oklo during the fourth quarter valued at approximately $32,000. Finally, Ascentis Independent Advisors acquired a new stake in Oklo in the first quarter worth approximately $33,000. 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.