Oklo (NYSE:OKLO) Reaches New 12-Month Low – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $38.35 and last traded at $38.7550, with a volume of 1482204 shares. The stock had previously closed at $41.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price target for the company. Citigroup upped their target price on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Tigress Financial initiated coverage on shares of Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 price target on the stock. Guggenheim began coverage on shares of Oklo in a report on Thursday, June 25th. They set a “neutral” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Oklo has an average rating of “Moderate Buy” and an average price target of $88.00.

Oklo Stock Performance

The company has a market cap of $7.04 billion, a P/E ratio of -47.99 and a beta of 1.14. The firm has a 50 day moving average price of $55.13 and a two-hundred day moving average price of $63.87.

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 the consensus estimate of ($0.20) by $0.01. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts predict that Oklo Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the sale, the chief executive officer owned 538,039 shares of the company’s stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction 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 owned 397,642 shares in the company, valued at approximately $27,206,665.64. This represents a 15.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 683,629 shares of company stock worth $43,902,208. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Oklo by 454.5% during the second 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. Norges Bank bought a new position in shares of Oklo in the fourth quarter valued at approximately $73,786,000. Millennium Management LLC grew its stake in Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. Van ECK Associates Corp grew its stake in Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after acquiring an additional 481,288 shares in the last quarter. Finally, Clear Street Group Inc. increased its holdings in Oklo by 110.5% during the 4th quarter. Clear Street Group Inc. now owns 842,172 shares of the company’s stock worth $60,434,000 after acquiring an additional 442,172 shares during the period. Institutional investors own 85.03% of the company’s stock.

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.