Oklo (NYSE:OKLO) Reaches New 1-Year Low – Here’s Why

Oklo Inc. (NYSE:OKLO) shares reached a new 52-week low on Monday. The company traded as low as $24.38 and last traded at $24.5440, with a volume of 3,092,574 shares traded. The stock had previously closed at $25.25.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OKLO shares. Canaccord Genuity Group decreased their price target on shares of Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Truist Financial decreased their price objective on shares of Oklo from $51.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, October 22nd. TD Cowen assumed coverage on Oklo in a research note on Monday, October 26th. They set a “hold” rating and a $26.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. Finally, Barclays dropped their price target on shares of Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.83.

Oklo Trading Down 5.9%

The firm has a 50-day moving average of $35.53 and a 200 day moving average of $54.14. The company has a market cap of $4.42 billion, a P/E ratio of -25.09 and a beta of 1.31.

Oklo (NYSE:OKLO) last issued its earnings results 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 business had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. During the same period in the prior year, the firm posted ($0.18) EPS. The business’s quarterly revenue was up 11900.0% compared to the same quarter last year. On average, equities analysts predict that Oklo Inc. will post -1.01 EPS for the current year.

Insider Activity at Oklo

In other Oklo news, General Counsel Vivek Narayanadas sold 1,021 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $26.50, for a total value of $27,056.50. Following the transaction, the general counsel owned 10,669 shares in the company, valued at approximately $282,728.50. This represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexandra Renner sold 1,100 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $37.39, for a total value of $41,129.00. Following the completion of the transaction, the insider owned 477,595 shares in the company, valued at approximately $17,857,277.05. This represents a 0.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 291,374 shares of company stock worth $10,955,825. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Oklo during the third quarter worth $11,483,000. Pilgrim Partners Asia Pte Ltd lifted its position in shares of Oklo by 66.0% during the third quarter. Pilgrim Partners Asia Pte Ltd now owns 1,660 shares of the company’s stock worth $61,000 after acquiring an additional 660 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Oklo by 159.5% in the 3rd quarter. International Assets Investment Management LLC now owns 30,000 shares of the company’s stock worth $1,111,000 after purchasing an additional 18,438 shares during the period. Choreo LLC grew its stake in Oklo by 4.1% during the third quarter. Choreo LLC now owns 10,478 shares of the company’s stock valued at $388,000 after acquiring an additional 412 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of Oklo by 172.7% in the 3rd quarter. BOKF NA now owns 30,000 shares of the company’s stock valued at $1,111,000 after acquiring an additional 19,000 shares in the last quarter. 85.03% of the stock is owned by institutional investors.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.