Oklo (NYSE:OKLO) Shares Down 7.6% Following Weak Earnings

Oklo Inc. (NYSE:OKLO) shares traded down 7.6% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $44.13 and last traded at $44.74. 14,147,389 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 11,589,963 shares. The stock had previously closed at $48.42.

The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same period in the previous year, the business posted ($0.18) EPS. The firm’s quarterly revenue was up 11900.0% compared to the same quarter last year.

Key Stories Impacting Oklo

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Oklo’s Groves Isotope Test Reactor in Texas achieved first criticality less than a year after groundbreaking, supporting management’s execution claims and potentially strengthening its path toward commercial isotope production. Oklo’s Groves Reactor Hits Criticality In Under a Year
• Positive Sentiment: HC Wainwright reaffirmed a “buy” rating with a $90 price target, while Canaccord maintained “buy” with a reduced target of $100. These targets imply substantial potential upside if Oklo meets its commercialization milestones.
• Positive Sentiment: The company cited continued Department of Energy momentum, fuel-supply planning with Centrus and progress toward the planned 2028 Aurora startup. The DOE’s narrowed competition for Nuclear Lifecycle Innovation Campuses could also create broader contracting opportunities for the nuclear sector. Unlocking $50 Billion Across the Nuclear Value Chain

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Royal Bank Of Canada set a $80.00 price objective on shares of Oklo in a research note on Friday, May 22nd. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Oklo in a report on Monday. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Oklo in a research report on Tuesday, May 26th. Finally, Bank of America initiated coverage on shares of Oklo in a research note on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.03.

Insider Activity

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo 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 transaction, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. This represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Norges Bank bought a new stake in shares of Oklo in the 4th quarter worth approximately $73,786,000. Millennium Management LLC lifted its holdings in shares of Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares during the last quarter. Van ECK Associates Corp boosted its position in Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after purchasing an additional 481,288 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Oklo during the 2nd quarter worth $24,532,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Stock Performance

The stock has a 50 day moving average of $50.88 and a 200 day moving average of $60.34. The stock has a market capitalization of $7.78 billion, a P/E ratio of -47.60 and a beta of 1.17.

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.