Oklo (NYSE:OKLO) Shares Down 1.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 1.7% during mid-day trading on Friday . The stock traded as low as $64.28 and last traded at $66.9120. Approximately 27,117,251 shares changed hands during mid-day trading, an increase of 127% from the average daily volume of 11,954,731 shares. The stock had previously closed at $68.09.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKLO shares. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Bank of America started coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Wolfe Research started coverage on Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. HSBC started coverage on Oklo in a report on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Oklo in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $83.06.

Oklo Trading Down 1.7%

The stock has a market capitalization of $11.64 billion, a PE ratio of -79.66 and a beta of 1.16. The firm’s 50-day simple moving average is $61.60 and its two-hundred day simple moving average is $74.83.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, research analysts expect that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other news, CFO Richard Craig Bealmear sold 72,090 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the transaction, the chief financial officer directly owned 386,008 shares in the company, valued at $23,160,480. The trade was a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the transaction, the chief executive officer owned 656,483 shares in the company, valued at approximately $33,080,178.37. This represents a 17.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 819,588 shares of company stock worth $49,774,300. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Oklo by 0.4% in the fourth 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Oklo by 71.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after purchasing an additional 481,288 shares in the last quarter. State Street Corp boosted its holdings in Oklo by 23.6% in 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 185,265 shares in the last quarter. 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.