Oklo (NYSE:OKLO) Shares Down 3.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s stock price dropped 3.2% during trading on Wednesday . The stock traded as low as $98.32 and last traded at $100.5590. Approximately 9,200,305 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 18,164,684 shares. The stock had previously closed at $103.93.

Analyst Upgrades and Downgrades

OKLO has been the topic of several research analyst reports. Seaport Res Ptn raised shares of Oklo from a “hold” rating to a “strong-buy” rating in a research report on Monday. UBS Group increased their price target on shares of Oklo from $65.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Oklo in a research report on Wednesday, November 12th. B. Riley increased their target price on Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Finally, Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $102.87.

Oklo Price Performance

The stock’s 50 day moving average is $119.76 and its 200-day moving average is $88.67. The company has a market capitalization of $15.71 billion, a P/E ratio of -186.22 and a beta of 0.73.

Oklo (NYSE:OKLO) last announced its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the previous year, the company earned ($0.08) earnings per share. On average, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other news, CFO Richard Craig Bealmear sold 7,622 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $101.44, for a total value of $773,175.68. Following the sale, the chief financial officer directly owned 121,913 shares of the company’s stock, valued at $12,366,854.72. This represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Carroll Murphy Goodwin sold 5,864 shares of Oklo stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $88.42, for a total transaction of $518,494.88. Following the transaction, the insider directly owned 13,620 shares of the company’s stock, valued at approximately $1,204,280.40. This trade represents a 30.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 467,800 shares of company stock worth $51,531,823. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in shares of Oklo in the third quarter worth about $27,000. Gables Capital Management Inc. purchased a new stake in Oklo in the 3rd quarter worth approximately $28,000. Nemes Rush Group LLC bought a new stake in Oklo during the 3rd quarter worth approximately $28,000. CI Investments Inc. raised its stake in Oklo by 153.0% during the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after acquiring an additional 179 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Oklo during the third quarter valued at approximately $33,000. Institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.