Oklo (NYSE:OKLO) Shares Down 4.4% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) was down 4.4% on Wednesday . The stock traded as low as $64.89 and last traded at $66.4180. Approximately 8,896,190 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 13,445,063 shares. The stock had previously closed at $69.47.

Analysts Set New Price Targets

OKLO has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Finally, Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.20.

Oklo Stock Down 4.4%

The stock has a fifty day moving average price of $86.63 and a two-hundred day moving average price of $97.08. The company has a market cap of $10.38 billion, a price-to-earnings ratio of -123.00 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period last year, the business posted ($0.08) EPS. Analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Carroll Murphy Goodwin sold 11,936 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $101.84, for a total transaction of $1,215,562.24. Following the completion of the sale, the insider directly owned 8,750 shares in the company, valued at approximately $891,100. This represents a 57.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 840,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the sale, the chief executive officer directly owned 1,580,000 shares in the company, valued at approximately $130,065,600. This trade represents a 34.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,762,526 shares of company stock worth $153,283,847 in the last 90 days. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after buying an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. raised its stake in Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. State Street Corp lifted its holdings in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after acquiring an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Oklo by 195.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. 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.