Oklo (NYSE:OKLO) Stock Price Down 4.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares traded down 4.2% during mid-day trading on Wednesday . The company traded as low as $53.83 and last traded at $54.0830. 8,138,505 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 12,254,458 shares. The stock had previously closed at $56.48.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: DOE approval of Oklo’s Preliminary Documented Safety Analysis for Aurora-INL advances its Reactor Pilot Program project and reduces regulatory uncertainty. U.S. Department of Energy Approves Preliminary Documented Safety Analysis for Aurora Powerhouse at Idaho National Laboratory
• Positive Sentiment: Growing AI power demand is increasing investor interest in decentralized nuclear and behind-the-meter power solutions, which supports the bull case for Oklo. The 127-Gigawatt Problem: Why AI Needs Its Own Power
• Neutral Sentiment: Commentary articles highlighted Oklo as one of the nuclear names to watch, but they did not add new operating or financial details. Promising Nuclear Stocks To Follow Today – June 9th

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HSBC assumed coverage on Oklo in a report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 target price on the stock. Tigress Financial assumed coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 target price on the stock. 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. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. assumed coverage on Oklo in a report on Monday, May 11th. They issued a “neutral” rating and a $83.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Oklo has an average rating of “Moderate Buy” and a consensus target price of $82.78.

Oklo Stock Performance

The stock has a 50-day simple moving average of $63.49 and a 200 day simple moving average of $72.20. The company has a market cap of $9.99 billion, a P/E ratio of -68.33 and a beta of 1.10.

Oklo (NYSE:OKLO) last posted 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 in the prior year, the company posted ($0.07) EPS. Sell-side analysts anticipate that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the firm’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 completion of the transaction, the chief financial officer owned 397,642 shares in the company, valued at $27,206,665.64. This trade represents a 15.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total value of $7,054,600.00. Following the transaction, the chief executive officer owned 656,483 shares of the company’s stock, valued at $33,080,178.37. This trade represents a 17.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 699,971 shares of company stock worth $44,221,357 in the last 90 days. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently bought and sold shares of OKLO. Pine Valley Investments Ltd Liability Co increased its stake in shares of Oklo by 63.4% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 19,478 shares of the company’s stock valued at $966,000 after buying an additional 7,557 shares during the period. NewEdge Advisors LLC increased its stake in shares of Oklo by 56.8% in the 1st quarter. NewEdge Advisors LLC now owns 35,894 shares of the company’s stock valued at $1,780,000 after buying an additional 13,002 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Oklo in the 1st quarter valued at $2,414,000. Western Wealth Management LLC acquired a new stake in shares of Oklo in the 1st quarter valued at $130,000. Finally, Silicon Valley Capital Partners increased its stake in shares of Oklo by 155.8% in the 1st quarter. Silicon Valley Capital Partners now owns 1,862 shares of the company’s stock valued at $92,000 after buying an additional 1,134 shares during the period. Institutional investors own 85.03% of the company’s stock.

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.