Oklo (NYSE:OKLO) Shares Down 4.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price dropped 4.5% on Monday . The company traded as low as $57.25 and last traded at $58.3920. Approximately 8,049,501 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 12,125,986 shares. The stock had previously closed at $61.17.

Analyst Ratings Changes

Several equities research analysts have commented on OKLO shares. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Craig Hallum restated a “hold” rating on shares of Oklo in a research report on Wednesday, March 18th. Tigress Financial started coverage on Oklo in a research note on Monday, April 27th. They issued a “buy” rating and a $130.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of Oklo in a research report on Tuesday, May 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Oklo in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.78.

Oklo Trading Down 4.5%

The firm has a fifty day moving average price of $64.83 and a 200 day moving average price of $70.96. The firm has a market cap of $10.16 billion, a PE ratio of -69.51 and a beta of 1.10.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the firm posted ($0.07) EPS. As a group, equities analysts predict that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares in the company, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 699,971 shares of company stock valued at $44,221,357 in the last 90 days. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in shares of Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC increased its position in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in Oklo by 356.2% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 285 shares during the period. Nemes Rush Group LLC purchased a new stake in Oklo in the 3rd quarter valued at about $28,000. Finally, Gilpin Wealth Management LLC acquired a new position in Oklo in the fourth quarter valued at about $29,000. 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.