Oklo (NYSE:OKLO) Trading Down 5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price was down 5% during mid-day trading on Thursday . The company traded as low as $59.51 and last traded at $59.6330. Approximately 7,101,210 shares traded hands during trading, a decline of 34% from the average daily volume of 10,734,425 shares. The stock had previously closed at $62.76.

Analysts Set New Price Targets

A number of research analysts have commented on OKLO shares. Zacks Research cut shares of Oklo from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Barclays dropped their price target on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a report on Friday, January 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned 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 company has an average rating of “Moderate Buy” and an average target price of $98.93.

Oklo Price Performance

The company’s 50 day simple moving average is $76.36 and its 200 day simple moving average is $95.19. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -108.07 and a beta of 0.80.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 60,001 shares of Oklo stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $62.60, for a total value of $3,756,062.60. Following the completion of the transaction, the chief executive officer owned 688,196 shares in the company, valued at $43,081,069.60. The trade was a 8.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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. This trade represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,947,546 shares of company stock worth $164,368,254 in the last quarter. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plancorp LLC increased its stake in Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock valued at $680,000 after purchasing an additional 73 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Oklo by 3.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after buying an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in Oklo by 1.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock worth $789,000 after acquiring an additional 101 shares in the last quarter. Meriwether Wealth & Planning LLC raised its stake in Oklo by 2.7% during the 4th quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock worth $326,000 after acquiring an additional 120 shares in the last quarter. Finally, Rossby Financial LCC lifted its position in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.