Oklo (NYSE:OKLO) Shares Down 8.9% – Here’s Why

Oklo Inc. (NYSE:OKLO) traded down 8.9% during trading on Thursday . The company traded as low as $83.50 and last traded at $85.9660. 14,252,406 shares traded hands during trading, a decline of 1% from the average session volume of 14,460,893 shares. The stock had previously closed at $94.39.

Analysts Set New Price Targets

OKLO has been the subject of a number of research reports. UBS Group reiterated a “neutral” rating on shares of Oklo in a report on Monday, January 12th. Canaccord Genuity Group started coverage on shares of Oklo in a report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price objective on the stock. B. Riley upped their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. William Blair restated an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Finally, Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and an average price target of $103.20.

Oklo Stock Down 7.6%

The stock has a market cap of $12.42 billion, a price-to-earnings ratio of -147.22 and a beta of 0.76. The company’s 50-day simple moving average is $89.16 and its 200-day simple moving average is $96.47.

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 period last year, the firm earned ($0.08) EPS. As a group, analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the sale, the chief financial officer directly owned 202,072 shares of the company’s stock, valued at approximately $15,842,444.80. This trade represents a 25.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 11,936 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was 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 in the company, valued at approximately $891,100. The trade was a 57.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,552,800 shares of company stock worth $137,543,426. 18.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Private Trust Co. NA acquired a new position in shares of Oklo in the 2nd quarter worth approximately $25,000. Fourth Dimension Wealth LLC increased its position in shares of Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after buying an additional 250 shares in the last quarter. NBC Securities Inc. raised its holdings in Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Oklo by 356.3% in the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after purchasing an additional 285 shares in the last quarter. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Oklo in the third quarter worth $27,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.