Oklo (NYSE:OKLO) Trading Down 6% – What’s Next?

Oklo Inc. (NYSE:OKLO) was down 6% during trading on Thursday . The stock traded as low as $50.43 and last traded at $50.8390. 9,618,054 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 12,061,364 shares. The stock had previously closed at $54.06.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent analyst reports. Craig Hallum restated a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Wedbush reiterated an “outperform” rating and issued a $110.00 price target on shares of Oklo in a research note on Tuesday, May 26th. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Citigroup upped their target price on shares of Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, UBS Group cut their target price on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.18.

Oklo Stock Performance

The firm has a fifty day simple moving average of $65.19 and a 200-day simple moving average of $70.05. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of -60.52 and a beta of 1.10.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the company earned ($0.07) earnings per share. Analysts expect that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total value of $7,054,600.00. Following the transaction, the chief executive officer directly owned 656,483 shares of the company’s stock, valued at $33,080,178.37. This represents a 17.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 699,971 shares of company stock worth $44,221,357. Insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several institutional investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new position in Oklo in the 3rd quarter valued at $28,000. CI Investments Inc. lifted its holdings in shares of Oklo by 153.0% during the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after buying an additional 179 shares in the last quarter. Comprehensive Financial Planning Inc. PA raised its stake in Oklo by 950.0% in the 3rd quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. NBC Securities Inc. boosted its holdings in 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. Finally, GAMMA Investing LLC boosted 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 purchasing an additional 285 shares during the period. 85.03% of the stock is currently owned by institutional investors.

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.