Oklo (NYSE:OKLO) Shares Down 7.6% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) fell 7.6% on Friday . The company traded as low as $78.91 and last traded at $79.50. 10,653,737 shares traded hands during trading, a decline of 25% from the average session volume of 14,274,839 shares. The stock had previously closed at $86.04.

Analysts Set New Price Targets

OKLO has been the subject of several research analyst reports. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $111.00 to $127.00 in a research report on Wednesday, January 21st. Canaccord Genuity Group began coverage on Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target on the stock. B. Riley lifted their target price on shares of Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Citigroup restated a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. Finally, William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $103.20.

Oklo Trading Down 7.6%

The company has a market capitalization of $12.42 billion, a PE ratio of -147.22 and a beta of 0.76. The business has a fifty day moving average of $89.33 and a 200 day moving average of $96.35.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the firm earned ($0.08) EPS. Equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In other news, CFO Richard Craig Bealmear sold 69,841 shares of Oklo stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the sale, the chief financial officer owned 202,072 shares in the company, valued at approximately $15,842,444.80. The trade was a 25.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Carroll Murphy Goodwin sold 11,936 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $101.84, for a total transaction of $1,215,562.24. Following the completion of the sale, the insider owned 8,750 shares of the company’s stock, valued at approximately $891,100. This trade represents a 57.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,552,800 shares of company stock valued at $137,543,426 in the last ninety days. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new position in shares of Oklo during the 3rd quarter worth approximately $27,000. Gables Capital Management Inc. purchased a new stake in shares of Oklo during the 3rd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new stake in shares of Oklo during the 3rd quarter worth approximately $28,000. CI Investments Inc. grew its holdings in shares of Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after acquiring an additional 179 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Oklo in the 3rd quarter valued at approximately $33,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.