Oklo (NYSE:OKLO) Trading Down 4.5% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) fell 4.5% during trading on Monday . The stock traded as low as $57.25 and last traded at $58.3920. Approximately 8,049,501 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 12,125,986 shares. The stock had previously closed at $61.17.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OKLO shares. Craig Hallum restated a “hold” rating on shares of Oklo in a research note on Wednesday, March 18th. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. B. Riley Financial cut their price objective on Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Finally, Citigroup raised their target price on Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $82.78.

Oklo Price Performance

The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of -69.51 and a beta of 1.10. The firm has a 50 day moving average price of $64.83 and a 200-day moving average price of $70.96.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same period last year, the firm earned ($0.07) EPS. Equities research analysts predict that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the completion of the transaction, the chief executive officer directly owned 656,483 shares of the company’s stock, valued at approximately $33,080,178.37. The trade was a 17.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. The trade was a 15.53% 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. Over the last ninety days, insiders sold 699,971 shares of company stock valued at $44,221,357. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

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

About Oklo

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.