Oklo (NYSE:OKLO) Shares Down 1.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 1.7% during mid-day trading on Friday . The company traded as low as $64.28 and last traded at $66.9120. Approximately 27,117,251 shares traded hands during mid-day trading, an increase of 127% from the average daily volume of 11,954,731 shares. The stock had previously closed at $68.09.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OKLO shares. Canaccord Genuity Group cut their target price on shares of Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Oklo in a report on Tuesday. Wolfe Research began coverage on Oklo in a report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, HSBC began coverage on Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.06.

Oklo Price Performance

The stock has a fifty day moving average price of $61.60 and a two-hundred day moving average price of $74.83. The company has a market cap of $11.64 billion, a P/E ratio of -79.66 and a beta of 1.16.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Richard Craig Bealmear sold 16,342 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $51.08, for a total transaction of $834,749.36. Following the sale, the chief financial officer owned 386,008 shares of the company’s stock, valued at $19,717,288.64. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider directly owned 36,175 shares in the company, valued at approximately $2,099,597. The trade was a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 819,588 shares of company stock valued at $49,774,300 over the last quarter. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new stake in Oklo during the first quarter worth approximately $130,000. Silicon Valley Capital Partners raised its holdings in Oklo by 155.8% during the first quarter. Silicon Valley Capital Partners now owns 1,862 shares of the company’s stock worth $92,000 after purchasing an additional 1,134 shares in the last quarter. Bank of America Corp DE raised its holdings in 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. MSA Advisors LLC bought a new stake in Oklo during the first quarter worth approximately $227,000. Finally, Amundi raised its holdings in Oklo by 59.0% during the first quarter. Amundi now owns 164,824 shares of the company’s stock worth $8,174,000 after purchasing an additional 61,161 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

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.