Oklo (NYSE:OKLO) Trading Down 3.2% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 3.2% on Wednesday . The company traded as low as $47.92 and last traded at $47.9880. 7,985,582 shares traded hands during trading, a decline of 23% from the average session volume of 10,405,789 shares. The stock had previously closed at $49.59.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Oklo from $91.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Oklo in a research note on Wednesday, March 18th. Citigroup cut their price target on shares of Oklo from $95.00 to $73.50 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Barclays reduced their price objective on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, February 23rd. Finally, Needham & Company LLC decreased their price objective on shares of Oklo from $135.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.30.

Oklo Price Performance

The business’s fifty day simple moving average is $64.62 and its 200 day simple moving average is $93.16. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of -66.87 and a beta of 0.93.

Oklo (NYSE:OKLO) last issued its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same period in the prior year, the business earned ($0.74) EPS. As a group, equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 231,657 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total value of $22,991,957.25. Following the sale, the chief executive officer owned 827,019 shares of the company’s stock, valued at approximately $82,081,635.75. This trade represents a 21.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 72,090 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $60.00, for a total value of $4,325,400.00. Following the transaction, the chief financial officer owned 386,008 shares of the company’s stock, valued at $23,160,480. This represents a 15.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,222,424 shares of company stock worth $100,739,512 in the last three months. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. lifted its position in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after purchasing an additional 2,901,909 shares during the last quarter. State Street Corp boosted its stake in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the period. Van ECK Associates Corp grew its position in Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. Finally, Norges Bank bought a new position in Oklo in the 4th quarter worth about $73,786,000. 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.