Oklo (NYSE:OKLO) Stock Price Down 5.2% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price fell 5.2% on Friday . The company traded as low as $38.83 and last traded at $38.9370. Approximately 8,758,627 shares traded hands during trading, a decline of 24% from the average daily volume of 11,570,377 shares. The stock had previously closed at $41.09.

Wall Street Analyst Weigh In

OKLO has been the topic of several recent analyst reports. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on Oklo in a research report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective on the stock. Bank of America started coverage on Oklo in a research note on Friday, May 22nd. They set a “buy” rating and a $80.00 target price on the stock. UBS Group dropped their price target on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Oklo Stock Performance

The business’s 50-day moving average is $53.80 and its 200-day moving average is $62.59. The company has a market capitalization of $6.77 billion, a PE ratio of -46.35 and a beta of 1.14.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Analysts expect that Oklo Inc. will post -0.74 EPS for the current year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 483,629 shares of company stock valued at $29,855,608 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently modified their holdings of the stock. DNB Asset Management AS lifted its stake in shares of Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock worth $2,054,000 after buying an additional 17,253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Oklo by 109.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock valued at $24,774,000 after acquiring an additional 180,377 shares in the last quarter. Prakash Investment Advisors LLC purchased a new position in Oklo in the 4th quarter worth approximately $1,246,000. M&T Bank Corp lifted its position in Oklo by 740.6% in the 4th quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after acquiring an additional 19,945 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after acquiring an additional 44,036 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.