Oklo (NYSE:OKLO) Trading Down 8.8% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 8.8% on Thursday . The company traded as low as $40.98 and last traded at $41.6580. Approximately 11,297,261 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 11,802,772 shares. The stock had previously closed at $45.69.

Analyst Ratings Changes

A number of brokerages recently commented on OKLO. HSBC began coverage on Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target for the company. JPMorgan Chase & Co. began coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective for the company. Weiss Ratings upgraded Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Citigroup lifted their target price on Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a report on Friday, May 22nd. Two research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Oklo Stock Performance

The company has a market cap of $7.17 billion, a PE ratio of -49.05 and a beta of 1.14. The company’s 50 day moving average price is $58.20 and its 200-day moving average price is $65.49.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the business earned ($0.07) EPS. Equities research analysts expect that Oklo Inc. will post -0.74 EPS for the current year.

Insider Activity

In other news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the completion of the transaction, the chief executive officer owned 538,039 shares in the company, valued at approximately $36,742,683.31. This represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer directly 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 position. 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. Insiders have sold 683,629 shares of company stock valued at $43,902,208 in the last 90 days. Insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several large investors have recently modified their holdings of OKLO. DNB Asset Management AS grew its position in Oklo by 151.7% during the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock valued at $2,054,000 after acquiring an additional 17,253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Oklo by 109.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock worth $24,774,000 after acquiring an additional 180,377 shares in the last quarter. Prakash Investment Advisors LLC bought a new stake in shares of Oklo in the 4th quarter worth approximately $1,246,000. M&T Bank Corp lifted its holdings in shares of Oklo by 740.6% in the 4th quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock worth $1,625,000 after acquiring an additional 19,945 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Oklo by 23.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 259,726 shares of the company’s stock valued at $18,638,000 after purchasing an additional 48,953 shares in the last quarter. Hedge funds and other 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.