Oklo (NYSE:OKLO) Stock Price Down 1.2% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares traded down 1.2% during mid-day trading on Monday . The company traded as low as $43.50 and last traded at $43.86. Approximately 5,976,025 shares traded hands during trading, a decline of 48% from the average daily volume of 11,493,653 shares. The stock had previously closed at $44.38.

Analyst Upgrades and Downgrades

OKLO has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. 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 for the company. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Oklo in a report on Tuesday, May 26th. Wolfe Research started coverage on Oklo in a research report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Oklo in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oklo has an average rating of “Moderate Buy” and an average price target of $85.03.

Oklo Trading Down 1.2%

The firm has a market cap of $8.16 billion, a PE ratio of -46.66 and a beta of 1.17. The company has a 50-day simple moving average of $48.84 and a 200 day simple moving average of $58.84.

Oklo (NYSE:OKLO) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same period last year, the business posted ($0.18) earnings per share. Oklo’s quarterly revenue was up 11900.0% on a year-over-year basis. On average, equities analysts expect that Oklo Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value 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 represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. NBC Securities Inc. increased its stake in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Costello Asset Management INC boosted its position in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Gilpin Wealth Management LLC acquired a new stake in Oklo in the fourth quarter valued at approximately $29,000. SHP Wealth Management acquired a new stake in Oklo in the fourth quarter valued at approximately $32,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Oklo in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.