Oklo (NYSE:OKLO) Trading Down 14.5% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price fell 14.5% during mid-day trading on Thursday . The company traded as low as $87.75 and last traded at $87.96. 19,821,743 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 18,505,830 shares. The stock had previously closed at $102.86.

Wall Street Analyst Weigh In

OKLO has been the subject of several recent research reports. Canaccord Genuity Group initiated coverage on Oklo in a report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target for the company. Bank of America cut their price objective on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Seaport Res Ptn cut shares of Oklo from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Daiwa Capital Markets upgraded shares of Oklo from a “neutral” rating to an “outperform” rating in a research note on Sunday, July 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Oklo in a report on Thursday, September 25th. They set a “neutral” rating and a $117.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $106.29.

Oklo Stock Down 14.5%

The business’s fifty day moving average is $124.54 and its 200 day moving average is $82.39. The stock has a market cap of $13.74 billion, a PE ratio of -162.89 and a beta of 0.70.

Oklo (NYSE:OKLO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the prior year, the firm earned ($0.08) EPS. As a group, analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total value of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares of the company’s stock, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 491,387 shares of company stock valued at $52,698,580. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in Oklo during the 1st quarter valued at about $358,000. CWM LLC increased its stake in shares of Oklo by 1,409.1% during the 1st quarter. CWM LLC now owns 4,980 shares of the company’s stock worth $108,000 after purchasing an additional 4,650 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Oklo during the 1st quarter worth approximately $1,063,000. IFP Advisors Inc acquired a new position in shares of Oklo during the 1st quarter worth approximately $49,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Oklo in the 1st quarter valued at approximately $374,000. 85.03% of the stock is owned by institutional investors and hedge funds.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.