Oklo (NYSE:OKLO) Shares Down 5.7% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) were down 5.7% during mid-day trading on Monday . The stock traded as low as $82.00 and last traded at $82.4150. Approximately 9,616,934 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 18,078,916 shares. The stock had previously closed at $87.42.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays set a $146.00 target price on Oklo in a report on Monday, September 29th. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. William Blair reiterated an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Canaccord Genuity Group initiated coverage on shares of Oklo in a report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Oklo in a report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $102.87.

Oklo Stock Performance

The company has a 50 day simple moving average of $116.01 and a 200 day simple moving average of $90.03. The company has a market capitalization of $11.87 billion, a PE ratio of -140.72 and a beta of 0.73.

Oklo (NYSE:OKLO) last released its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In related news, insider William Carroll Murphy Goodwin sold 5,864 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $88.42, for a total transaction of $518,494.88. Following the completion of the sale, the insider owned 13,620 shares of the company’s stock, valued at approximately $1,204,280.40. This represents a 30.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Craig Bealmear sold 7,622 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $101.44, for a total transaction of $773,175.68. Following the completion of the sale, the chief financial officer owned 121,913 shares of the company’s stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 375,422 shares of company stock worth $42,873,233 over the last three months. 18.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. increased its position in Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the last quarter. State Street Corp increased its position in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC raised its stake in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after purchasing an additional 1,488,482 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.