Oklo (NYSE:OKLO) Shares Down 11.9% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 11.9% during mid-day trading on Thursday . The stock traded as low as $105.99 and last traded at $106.80. 15,530,642 shares traded hands during trading, a decline of 17% from the average session volume of 18,686,975 shares. The stock had previously closed at $121.23.

Analyst Ratings Changes

Several research firms recently issued reports on OKLO. UBS Group set a $175.00 price target on shares of Oklo in a report on Thursday, October 9th. BNP Paribas raised shares of Oklo to a “strong sell” rating in a report on Friday, July 25th. BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They set an “underperform” rating and a $14.00 price target for the company. William Blair reissued an “outperform” rating on shares of Oklo in a report on Tuesday, August 12th. Finally, Barclays set a $146.00 target price on shares of Oklo in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Oklo presently has a consensus rating of “Hold” and a consensus target price of $98.14.

Oklo Price Performance

The firm’s 50-day simple moving average is $118.31 and its two-hundred day simple moving average is $76.79. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of -254.28 and a beta of 0.70.

Oklo (NYSE:OKLO) last issued its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the sale, the director owned 150,000 shares of the company’s stock, valued at $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the sale, the chief executive officer directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 491,387 shares of company stock worth $52,698,580 over the last ninety days. 18.90% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently modified their holdings of the business. Armstrong Advisory Group Inc. purchased a new stake in shares of Oklo in the third quarter valued at about $27,000. Gables Capital Management Inc. purchased a new position in shares of Oklo during the third quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Oklo during the third quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Oklo during the third quarter valued at approximately $45,000. Finally, Private Trust Co. NA purchased a new position in shares of Oklo during the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.