Oklo (NYSE:OKLO) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Oklo (NYSE:OKLO) released its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07), Zacks reports.

Oklo Price Performance

Shares of NYSE:OKLO traded down $7.52 during trading on Tuesday, reaching $104.00. 11,270,094 shares of the company were exchanged, compared to its average volume of 18,614,582. Oklo has a 12-month low of $17.14 and a 12-month high of $193.84. The firm has a market capitalization of $15.35 billion, a PE ratio of -247.61 and a beta of 0.70. The business’s fifty day simple moving average is $120.41 and its 200-day simple moving average is $79.02.

Insider Buying and Selling

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the transaction, the director directly owned 150,000 shares in the company, valued at $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in Oklo by 1,236.7% during the second quarter. EverSource Wealth Advisors LLC now owns 655 shares of the company’s stock valued at $37,000 after purchasing an additional 606 shares in the last quarter. NewEdge Advisors LLC increased its stake in Oklo by 6.2% during the 2nd quarter. NewEdge Advisors LLC now owns 16,636 shares of the company’s stock worth $931,000 after buying an additional 964 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Oklo by 2.7% during the second quarter. Geneos Wealth Management Inc. now owns 37,976 shares of the company’s stock valued at $2,126,000 after acquiring an additional 1,003 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Oklo by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 25,332 shares of the company’s stock valued at $1,418,000 after acquiring an additional 1,147 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of Oklo by 4.1% in the second quarter. Nebula Research & Development LLC now owns 31,209 shares of the company’s stock valued at $1,747,000 after acquiring an additional 1,242 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OKLO shares. Citigroup boosted their price target on Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. UBS Group set a $175.00 price objective on shares of Oklo in a research report on Thursday, October 9th. William Blair restated an “outperform” rating on shares of Oklo in a research report on Tuesday, August 12th. BTIG Research reiterated a “neutral” rating on shares of Oklo in a report on Tuesday, August 12th. Finally, HC Wainwright increased their price objective on shares of Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Oklo has a consensus rating of “Hold” and a consensus price target of $98.14.

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.