Oklo (NYSE:OKLO) Shares Down 3.3% – What’s Next?

Oklo Inc. (NYSE:OKLO) was down 3.3% on Thursday . The company traded as low as $40.77 and last traded at $41.54. Approximately 6,296,444 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 11,416,172 shares. The stock had previously closed at $42.94.

Analyst Upgrades and Downgrades

OKLO has been the topic of several recent analyst reports. Truist Financial cut their target price on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. UBS Group lowered their price target on Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Canaccord Genuity Group dropped their price objective on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, Bank of America started coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.03.

Oklo Price Performance

The stock’s 50-day moving average is $48.02 and its two-hundred day moving average is $57.87. The company has a market cap of $7.73 billion, a P/E ratio of -44.19 and a beta of 1.17.

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

Insider Buying and Selling at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the sale, the chief executive officer owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 473,081 shares of company stock valued at $29,243,402 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. NBC Securities Inc. boosted its holdings in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in Oklo during the fourth quarter valued at approximately $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Oklo during the third quarter valued at approximately $45,000. Triumph Capital Management bought a new position in Oklo in the third quarter worth approximately $49,000. Finally, SHP Wealth Management bought a new position in Oklo in the fourth quarter worth approximately $32,000. 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.