Oklo (NYSE:OKLO) Stock Price Down 1.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares fell 1.2% on Friday . The stock traded as low as $39.53 and last traded at $41.2050. 9,134,893 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 11,784,526 shares. The stock had previously closed at $41.70.

Analyst Ratings Changes

Several research firms have recently issued reports on OKLO. HSBC began coverage on shares of Oklo in a research report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. Wolfe Research began coverage on shares of Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective for the company. Truist Financial started coverage on shares of Oklo in a report on Monday, July 13th. They set a “hold” rating and a $55.00 target price on the stock. Finally, Weiss Ratings upgraded Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Oklo Trading Down 1.2%

The stock has a fifty day simple moving average of $58.20 and a two-hundred day simple moving average of $65.49. The firm has a market cap of $7.17 billion, a PE ratio of -49.05 and a beta of 1.14.

Oklo (NYSE:OKLO) last announced 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 previous year, the company earned ($0.07) earnings per share. As a group, sell-side analysts predict that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 683,629 shares of company stock valued at $43,902,208. Company insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. grew its position in Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Costello Asset Management INC raised its holdings in shares of Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Oklo by 356.2% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after acquiring an additional 285 shares during the last quarter. Gilpin Wealth Management LLC bought a new stake in shares of Oklo during the 4th quarter valued at about $29,000. Finally, SHP Wealth Management bought a new stake in shares of Oklo during the 4th quarter valued at about $32,000. Hedge funds and other 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.