Oklo (NYSE:OKLO) Trading Down 6% – What’s Next?

Oklo Inc. (NYSE:OKLO) was down 6% on Thursday . The company traded as low as $50.43 and last traded at $50.8390. Approximately 9,618,054 shares were traded during mid-day trading, a decline of 20% from the average session volume of 12,061,364 shares. The stock had previously closed at $54.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OKLO shares. Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of Oklo in a research report on Tuesday, May 26th. Bank of America started coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. Tigress Financial initiated coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Oklo in a research report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.18.

Oklo Trading Down 6.0%

The company’s 50-day moving average is $65.19 and its 200-day moving average is $70.05. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of -60.52 and a beta of 1.10.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the company earned ($0.07) EPS. Equities research analysts forecast that Oklo Inc. will post -0.78 EPS for the current year.

Insider Activity at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the completion of the sale, the chief executive officer owned 538,039 shares in the company, valued at $36,742,683.31. This represents a 20.65% decrease in their position. 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 have sold 699,971 shares of company stock valued at $44,221,357 over the last ninety days. 18.90% of the stock is owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently made changes to their positions in OKLO. Western Wealth Management LLC acquired a new position in shares of Oklo in the first quarter valued at approximately $130,000. Pacer Advisors Inc. boosted its position in Oklo by 19.1% during the 1st quarter. Pacer Advisors Inc. now owns 32,575 shares of the company’s stock worth $1,615,000 after buying an additional 5,229 shares during the period. Empowered Funds LLC grew its holdings in Oklo by 60.8% during the 1st quarter. Empowered Funds LLC now owns 11,073 shares of the company’s stock worth $549,000 after acquiring an additional 4,186 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in Oklo by 63.4% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 19,478 shares of the company’s stock worth $966,000 after acquiring an additional 7,557 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Oklo by 56.8% in the 1st quarter. NewEdge Advisors LLC now owns 35,894 shares of the company’s stock valued at $1,780,000 after acquiring an additional 13,002 shares during the period. 85.03% of the stock is currently owned by 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.