Oklo (NYSE:OKLO) Shares Down 7.1% – Here’s Why

Oklo Inc. (NYSE:OKLO) fell 7.1% during trading on Monday. The stock traded as low as $32.19 and last traded at $32.2350. Approximately 10,059,934 shares changed hands during trading, a decline of 10% from the average daily volume of 11,196,441 shares. The stock had previously closed at $34.70.

Analyst Ratings Changes

Several research firms recently issued reports on OKLO. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Oklo in a research report on Monday, August 10th. Barclays decreased their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Citigroup decreased their target price on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating on the stock in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of Oklo in a research note on Thursday, October 1st. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.44.

Oklo Price Performance

The firm has a 50 day simple moving average of $40.30 and a 200-day simple moving average of $51.17. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -34.29 and a beta of 1.20.

Oklo (NYSE:OKLO) last posted its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 11900.0% on a year-over-year basis. Research analysts anticipate that Oklo Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity

In related news, insider Alexandra Renner sold 1,100 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $37.39, for a total transaction of $41,129.00. Following the completion of the sale, the insider directly owned 477,595 shares of the company’s stock, valued at approximately $17,857,277.05. This trade represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Jansen sold 6,354 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $36.67, for a total transaction of $233,001.18. Following the completion of the sale, the director owned 6,000 shares in the company, valued at approximately $220,020. This trade represents a 51.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 286,942 shares of company stock worth $10,829,807. 12.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GK Wealth Management LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at approximately $69,000. Polaris Financial Partners acquired a new position in shares of Oklo in the 3rd quarter worth approximately $93,000. MCF Advisors LLC lifted its holdings in shares of Oklo by 201.0% in the 2nd quarter. MCF Advisors LLC now owns 1,559 shares of the company’s stock worth $82,000 after acquiring an additional 1,041 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Oklo by 74.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,731 shares of the company’s stock worth $666,000 after purchasing an additional 5,423 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Oklo by 15.2% during the 2nd quarter. NewEdge Advisors LLC now owns 41,362 shares of the company’s stock worth $2,164,000 after purchasing an additional 5,468 shares during the period. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

Oklo Inc is an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.

The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.