Oklo (NYSE:OKLO) Shares Down 2.3% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 2.3% on Tuesday . The stock traded as low as $60.04 and last traded at $63.20. 5,954,634 shares traded hands during trading, a decline of 47% from the average session volume of 11,284,658 shares. The stock had previously closed at $64.68.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKLO. Barclays dropped their target price on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. William Blair reiterated an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. B. Riley Financial increased their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. UBS Group reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.93.

Oklo Stock Performance

The firm’s 50-day simple moving average is $78.37 and its 200 day simple moving average is $95.76. The stock has a market capitalization of $9.69 billion, a P/E ratio of -114.83 and a beta of 0.80.

Insider Activity

In other Oklo news, CFO Richard Craig Bealmear sold 9,726 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $76.93, for a total transaction of $748,221.18. Following the transaction, the chief financial officer owned 196,913 shares of the company’s stock, valued at $15,148,517.09. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 60,001 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $62.60, for a total value of $3,756,062.60. Following the sale, the chief executive officer owned 688,196 shares in the company, valued at approximately $43,081,069.60. This represents a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,944,726 shares of company stock worth $164,208,389 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC lifted its stake in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares during the last quarter. NBC Securities Inc. raised its holdings 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 during the period. GAMMA Investing LLC raised its holdings in shares of Oklo by 356.3% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after purchasing an additional 285 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in Oklo in the 3rd quarter valued at about $27,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Oklo during the second quarter worth about $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.