Oklo (NYSE:OKLO) Stock Price Down 2.5% – Here’s Why

Oklo Inc. (NYSE:OKLO) fell 2.5% during trading on Monday. The stock traded as low as $36.91 and last traded at $37.1070. 6,406,312 shares changed hands during trading, a decline of 43% from the average session volume of 11,236,190 shares. The stock had previously closed at $38.04.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial set a $51.00 price objective on shares of Oklo in a report on Monday. Citigroup reduced their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating for the company in a report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Barclays decreased their price target on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Guggenheim initiated coverage on shares of Oklo in a research note on Thursday, June 25th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.44.

Oklo Price Performance

The business has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $52.72. The firm has a market cap of $6.90 billion, a PE ratio of -39.48 and a beta of 1.18.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The firm’s quarterly revenue was up 11900.0% on a year-over-year basis. On average, equities analysts forecast that Oklo Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CFO Richard Bealmear sold 16,430 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $38.76, for a total transaction of $636,826.80. Following the sale, the chief financial officer owned 455,976 shares in the company, valued at approximately $17,673,629.76. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob DeWitte sold 80,000 shares of Oklo stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $38.69, for a total transaction of $3,095,200.00. Following the transaction, the chief executive officer directly owned 398,039 shares in the company, valued at $15,400,128.91. This represents a 16.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 362,030 shares of company stock worth $16,851,123 in the last ninety days. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of Oklo by 344.6% in the first quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock valued at $2,484,000 after acquiring an additional 38,829 shares in the last quarter. Bank of America Corp DE grew its position in shares of Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after purchasing an additional 220,976 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Oklo by 82.8% during the fourth quarter. Intech Investment Management LLC now owns 46,717 shares of the company’s stock worth $3,352,000 after purchasing an additional 21,157 shares in the last quarter. Hsbc Holdings PLC raised its stake in Oklo by 1,184.4% during the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock valued at $8,063,000 after purchasing an additional 103,623 shares during the period. Finally, Optiver Holding B.V. bought a new stake in Oklo during the 1st quarter valued at approximately $2,414,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.