Oklo (NYSE:OKLO) Shares Down 5.3% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $37.80 and last traded at $39.5770. Approximately 8,588,091 shares were traded during trading, a decline of 26% from the average daily volume of 11,631,132 shares. The stock had previously closed at $41.81.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wolfe Research began coverage on Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Guggenheim initiated coverage on shares of Oklo in a report on Thursday, June 25th. They set a “neutral” rating for the company. UBS Group reduced their price objective on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. Finally, Barclays dropped their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Oklo Stock Down 5.3%

The company has a fifty day moving average price of $55.13 and a 200-day moving average price of $63.87. The stock has a market capitalization of $6.89 billion, a P/E ratio of -47.11 and a beta of 1.14.

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

Insider Transactions at Oklo

In related news, 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 value of $612,205.92. Following the completion of the transaction, the insider directly owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the sale, the chief executive officer owned 511,533 shares in the company, valued at $27,008,942.40. This represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 683,629 shares of company stock valued at $43,902,208 in the last ninety days. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. Royal Bank of Canada lifted its position in Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after purchasing an additional 57,497 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Oklo in the 1st quarter worth about $519,000. Millennium Management LLC raised its position in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after buying an additional 570,532 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after buying an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after acquiring an additional 53,703 shares during the last quarter. 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.