Oklo (NYSE:OKLO) Trading Down 1.9% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price traded down 1.9% during trading on Friday . The company traded as low as $49.56 and last traded at $50.0640. 22,478,251 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 12,124,853 shares. The stock had previously closed at $51.01.

Analysts Set New Price Targets

Several analysts recently commented on OKLO shares. Wolfe Research began coverage on Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. HSBC assumed coverage on shares of Oklo in a research report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a research note on Friday, May 22nd. HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Oklo in a research report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.18.

Oklo Trading Down 1.9%

The firm has a 50-day moving average of $65.03 and a 200 day moving average of $69.67. The company has a market cap of $8.71 billion, a P/E ratio of -59.60 and a beta of 1.10.

Oklo (NYSE:OKLO) last issued its 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 prior year, the company earned ($0.07) earnings per share. On average, equities analysts predict that Oklo Inc. will post -0.78 EPS for the current year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the transaction, the chief executive officer directly owned 538,039 shares in the company, valued at approximately $36,742,683.31. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 699,971 shares of company stock worth $44,221,357 in the last quarter. 18.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in OKLO. Royal Bank of Canada raised its stake in Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after buying an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new stake in Oklo in the first quarter valued at approximately $519,000. Millennium Management LLC grew its stake in Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Oklo by 165.6% during the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after acquiring an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Oklo by 90.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after acquiring an additional 53,703 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.