Oklo (NYSE:OKLO) Shares Down 1.2% – What’s Next?

Oklo Inc. (NYSE:OKLO) fell 1.2% during mid-day trading on Friday . The stock traded as low as $39.53 and last traded at $41.2050. Approximately 9,134,893 shares changed hands during trading, a decline of 22% from the average session volume of 11,784,526 shares. The stock had previously closed at $41.70.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKLO shares. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. HSBC assumed coverage on Oklo in a research note on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective on the stock. Royal Bank Of Canada set a $80.00 target price on Oklo in a research report on Friday, May 22nd. Tigress Financial assumed coverage on Oklo in a research note on Monday, April 27th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average target price of $84.00.

Oklo Stock Performance

The stock’s fifty day moving average is $58.83 and its two-hundred day moving average is $65.66. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -49.05 and a beta of 1.14.

Oklo (NYSE:OKLO) last released its quarterly 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 previous year, the company posted ($0.07) EPS. Sell-side analysts anticipate that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total value of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares in the company, valued at approximately $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated 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 directly owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 683,629 shares of company stock valued at $43,902,208. 18.90% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Vanguard Group Inc. raised its position in shares of Oklo by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after acquiring an additional 44,036 shares in the last quarter. Van ECK Associates Corp increased its stake in Oklo by 13.9% during the fourth 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 last quarter. State Street Corp raised its holdings in shares of 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 purchasing an additional 584,184 shares during the period. Geode Capital Management LLC raised its holdings in shares of Oklo by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after purchasing an additional 185,265 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Oklo by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock worth $83,262,000 after buying an additional 90,213 shares during the last quarter. Institutional investors and hedge funds 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.