Oklo (NYSE:OKLO) Stock Price Down 7.8% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) traded down 7.8% during mid-day trading on Tuesday . The stock traded as low as $46.95 and last traded at $47.8220. 11,181,970 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 12,000,446 shares. The stock had previously closed at $51.84.

Analyst Ratings Changes

OKLO has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. HSBC started coverage on Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective for the company. Citigroup boosted their price target on Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wolfe Research assumed coverage on shares of Oklo in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.18.

Oklo Price Performance

The company has a 50-day moving average of $62.85 and a two-hundred day moving average of $67.55. The company has a market capitalization of $8.32 billion, a PE ratio of -56.93 and a beta of 1.14.

Oklo (NYSE:OKLO) last posted its quarterly earnings data 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) earnings per share. As a group, research analysts anticipate that Oklo Inc. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the sale, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares in the company, valued at $2,099,597. The trade was 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. Insiders sold a total of 623,629 shares of company stock worth $40,734,208 over the last three months. 18.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new stake in shares of Oklo during the first quarter valued at approximately $130,000. Pacer Advisors Inc. grew its position in shares of Oklo by 19.1% during the first quarter. Pacer Advisors Inc. now owns 32,575 shares of the company’s stock valued at $1,615,000 after purchasing an additional 5,229 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Oklo by 60.8% in the first quarter. Empowered Funds LLC now owns 11,073 shares of the company’s stock worth $549,000 after purchasing an additional 4,186 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Oklo by 63.4% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 19,478 shares of the company’s stock worth $966,000 after purchasing an additional 7,557 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Oklo by 56.8% in the first quarter. NewEdge Advisors LLC now owns 35,894 shares of the company’s stock worth $1,780,000 after purchasing an additional 13,002 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.