Oklo (NYSE:OKLO) Trading Down 6.9% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) were down 6.9% during trading on Wednesday . The stock traded as low as $36.61 and last traded at $36.85. 8,374,528 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 11,619,117 shares. The stock had previously closed at $39.58.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 target price on the stock. Citigroup raised their price target on Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 price target on shares of Oklo in a report on Wednesday, May 13th. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. Finally, Guggenheim began coverage on Oklo in a research note on Thursday, June 25th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Trading Down 1.7%

The firm has a market capitalization of $7.03 billion, a PE ratio of -48.75 and a beta of 1.14. The firm has a 50-day moving average of $53.80 and a two-hundred day moving average of $62.59.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the company posted ($0.07) EPS. Equities research analysts expect that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was 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 approximately $36,742,683.31. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the 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 directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 483,629 shares of company stock valued at $29,855,608 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. increased its position in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Costello Asset Management INC lifted its holdings in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its position in Oklo by 356.2% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares during the period. Gilpin Wealth Management LLC purchased a new stake in Oklo during the 4th quarter worth $29,000. Finally, SHP Wealth Management acquired a new stake in Oklo in the 4th quarter valued at $32,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.