Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Monday . The stock had previously closed at $63.83, but opened at $61.60. Oklo shares last traded at $62.30, with a volume of 1,305,682 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Oklo from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and upped their price objective for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Barclays decreased their target price on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.93.

Oklo Stock Performance

The stock has a 50 day moving average of $80.20 and a 200 day moving average of $96.30. The stock has a market capitalization of $10.34 billion, a P/E ratio of -122.55 and a beta of 0.76.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $74.45, for a total value of $4,467,000.00. Following the sale, the chief executive officer directly owned 748,197 shares in the company, valued at $55,703,266.65. This trade represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 9,726 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the transaction, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at $15,148,517.09. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,750,590 shares of company stock worth $152,068,284. Corporate insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares during the period. Vanguard Group Inc. grew its position in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after buying an additional 2,901,909 shares in the last quarter. State Street Corp increased its stake in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after buying an additional 1,752,946 shares during the period. Geode Capital Management LLC raised its position in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after acquiring an additional 1,316,867 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.