Oklo (NYSE:OKLO) Stock Price Down 6% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price fell 6% on Thursday . The company traded as low as $50.43 and last traded at $50.8390. 9,618,054 shares were traded during trading, a decline of 20% from the average session volume of 12,061,364 shares. The stock had previously closed at $54.06.

Analysts Set New Price Targets

Several analysts recently issued reports on OKLO shares. Weiss Ratings upgraded Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. initiated coverage on Oklo in a research report on Monday, May 11th. They issued a “neutral” rating and a $83.00 target price for the company. Tigress Financial assumed coverage on Oklo in a report on Monday, April 27th. They set a “buy” rating and a $130.00 target price on the stock. HSBC assumed coverage on Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target on the stock. Finally, Bank of America initiated coverage on shares of Oklo in a research report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.18.

Oklo Stock Performance

The company has a market capitalization of $8.71 billion, a PE ratio of -59.60 and a beta of 1.10. The company has a 50 day moving average price of $64.76 and a 200 day moving average price of $69.53.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the prior year, the business posted ($0.07) earnings per share. On average, equities analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the transaction, the chief financial officer 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the transaction, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 699,971 shares of company stock valued at $44,221,357. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NBC Securities Inc. increased its holdings in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Costello Asset Management INC lifted its stake in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Oklo by 356.2% in the fourth 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. Nemes Rush Group LLC acquired a new position in Oklo in the third quarter worth $28,000. Finally, Gilpin Wealth Management LLC bought a new stake in Oklo during the fourth quarter valued at $29,000. Institutional investors own 85.03% of the company’s stock.

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.