Oklo (NYSE:OKLO) Shares Down 1.9% – Here’s Why

Oklo Inc. (NYSE:OKLO) fell 1.9% during mid-day trading on Friday . The stock traded as low as $49.56 and last traded at $50.0640. 22,478,251 shares changed hands during mid-day trading, an increase of 85% from the average session volume of 12,124,853 shares. The stock had previously closed at $51.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, May 13th. Craig Hallum reiterated a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. HSBC began coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price for the company. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Oklo in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.18.

Oklo Stock Performance

The firm has a market capitalization of $8.71 billion, a P/E ratio of -59.60 and a beta of 1.10. The firm has a 50 day simple moving average of $65.03 and a two-hundred day simple moving average of $69.67.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Sell-side analysts anticipate that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total value of $7,054,600.00. Following the completion of the sale, the chief executive officer directly owned 656,483 shares of the company’s stock, valued at approximately $33,080,178.37. This represents a 17.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 699,971 shares of company stock worth $44,221,357. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently modified their holdings of OKLO. Vanguard Group Inc. grew its stake in Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after purchasing an additional 44,036 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after buying an additional 2,968,981 shares during the period. Van ECK Associates Corp increased its holdings in Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after buying an additional 481,288 shares during the last quarter. State Street Corp increased its holdings in Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after buying an additional 584,184 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Oklo by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after acquiring an additional 185,265 shares during the period. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.