Oklo (NYSE:OKLO) Trading Down 5.5% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays dropped their price target on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. HSBC began coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price on the stock. Guggenheim initiated coverage on Oklo in a report on Thursday, June 25th. They set a “neutral” rating on the stock. Bank of America started coverage on Oklo in a research report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.03.

Oklo Price Performance

The stock’s 50 day moving average price is $48.54 and its two-hundred day moving average price is $58.55. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of -44.11 and a beta of 1.17.

Oklo (NYSE:OKLO) last posted its 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 company had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. The company’s revenue was up 11900.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) EPS. As a group, equities research analysts anticipate that Oklo Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the transaction, the insider directly owned 36,175 shares in the company, valued at approximately $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the transaction, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 483,629 shares of company stock valued at $29,855,608. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes 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 acquiring an additional 150 shares during the last quarter. Costello Asset Management INC raised its stake in Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Gilpin Wealth Management LLC bought a new stake in Oklo in the 4th quarter valued at $29,000. SHP Wealth Management bought a new stake in Oklo in the 4th quarter valued at $32,000. Finally, Ascentis Independent Advisors acquired a new stake in Oklo in the 1st quarter worth $33,000. 85.03% of the stock is owned by institutional investors.

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.