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

Oklo Inc. (NYSE:OKLO)’s stock price was down 4.4% during trading on Tuesday . The stock traded as low as $53.96 and last traded at $56.0040. Approximately 11,692,298 shares were traded during trading, a decline of 1% from the average daily volume of 11,761,394 shares. The stock had previously closed at $58.56.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. UBS Group reduced their target price on Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Tigress Financial assumed coverage on Oklo in a research note on Monday, April 27th. They issued a “buy” rating and a $130.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Citigroup upped their target price on Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Oklo Trading Down 4.4%

The company has a market cap of $9.74 billion, a PE ratio of -66.67 and a beta of 1.16. The business has a 50 day simple moving average of $60.85 and a two-hundred day simple moving average of $78.15.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts expect that Oklo Inc. will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the transaction, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Craig Bealmear sold 72,090 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the transaction, the chief financial officer directly owned 386,008 shares in the company, valued at approximately $23,160,480. This represents a 15.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 809,040 shares of company stock worth $49,162,094. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Gables Capital Management Inc. purchased a new position in shares of Oklo in the 3rd quarter worth $28,000. Nemes Rush Group LLC purchased a new position in shares of Oklo in the 3rd quarter worth $28,000. CI Investments Inc. raised its position in shares of Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after buying an additional 179 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Oklo in the 3rd quarter worth $33,000. Finally, Comprehensive Financial Planning Inc. PA raised its position in shares of 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 buying an additional 285 shares during the period. 85.03% of the stock is owned by hedge funds and other 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.