Oklo (NYSE:OKLO) Stock Price Down 7.4% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 7.4% during mid-day trading on Friday . The stock traded as low as $108.54 and last traded at $110.33. Approximately 24,716,166 shares were traded during trading, an increase of 34% from the average daily volume of 18,382,193 shares. The stock had previously closed at $119.13.

Analyst Ratings Changes

A number of research firms have recently issued reports on OKLO. Citigroup increased their price objective on shares of Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. William Blair restated an “outperform” rating on shares of Oklo in a research report on Tuesday, August 12th. Bank of America initiated coverage on shares of Oklo in a research note on Tuesday, August 26th. They issued a “buy” rating and a $92.00 price target on the stock. BTIG Research reiterated a “neutral” rating on shares of Oklo in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Oklo in a report on Thursday. They set a “neutral” rating and a $117.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Oklo presently has an average rating of “Hold” and a consensus price target of $76.50.

Oklo Trading Down 7.4%

The stock has a market cap of $16.29 billion, a price-to-earnings ratio of -262.67 and a beta of 0.59. The stock’s 50 day moving average is $82.00 and its two-hundred day moving average is $54.33.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). On average, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares in the company, valued at $20,064,000. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the sale, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. The trade was a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,387 shares of company stock worth $35,580,580. 18.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of OKLO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Oklo by 358.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company’s stock worth $1,254,000 after acquiring an additional 46,188 shares during the last quarter. Parallel Advisors LLC lifted its position in Oklo by 42.4% during the first quarter. Parallel Advisors LLC now owns 11,862 shares of the company’s stock valued at $257,000 after buying an additional 3,530 shares in the last quarter. Rhumbline Advisers acquired a new position in Oklo during the first quarter valued at approximately $65,000. Kaizen Financial Strategies lifted its position in Oklo by 26.7% during the first quarter. Kaizen Financial Strategies now owns 13,520 shares of the company’s stock valued at $292,000 after buying an additional 2,850 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Oklo during the first quarter valued at approximately $410,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Company Profile

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.