Oklo (NYSE:OKLO) Stock Price Down 4.4% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 4.4% during trading on Wednesday . The stock traded as low as $64.89 and last traded at $66.4180. 8,896,190 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 13,445,063 shares. The stock had previously closed at $69.47.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Texas Capital raised Oklo to a “strong-buy” rating in a report on Tuesday, January 27th. UBS Group restated a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. Citigroup reiterated a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.20.

Oklo Stock Performance

The company has a fifty day simple moving average of $86.63 and a 200 day simple moving average of $97.08. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of -123.00 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period in the prior year, the company posted ($0.08) earnings per share. As a group, equities analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Richard Craig Bealmear sold 9,726 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $76.93, for a total transaction of $748,221.18. Following the completion of the sale, the chief financial officer directly owned 196,913 shares in the company, valued at $15,148,517.09. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $74.45, for a total transaction of $4,467,000.00. Following the transaction, the chief executive officer directly owned 748,197 shares of the company’s stock, valued at $55,703,266.65. This represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,762,526 shares of company stock valued at $153,283,847 in the last three months. Insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. grew its stake 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 period. State Street Corp grew its stake 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 period. Geode Capital Management LLC increased its holdings in Oklo by 195.9% in 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 in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares during the period. 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.