Oklo (NYSE:OKLO) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Oklo reported a quarterly EPS of ($0.18), missing the expected ($0.12) by ($0.06).
• The company's stock decreased by 4.4% on the day following the earnings release, closing at $72.00.
• Several institutional investors significantly increased their holdings in Oklo, with Millennium Management growing its stake by 4,974.1%.

Oklo (NYSE:OKLO - Get Free Report) issued its earnings results on Monday. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06), Zacks reports.

Oklo Stock Down 4.4%

NYSE OKLO traded down $3.33 during trading on Monday, reaching $72.00. 16,217,305 shares of the company traded hands, compared to its average volume of 20,656,442. The stock's 50 day moving average price is $62.41 and its two-hundred day moving average price is $43.25. Oklo has a 1-year low of $5.35 and a 1-year high of $85.35.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock worth $35,066,500 over the last ninety days. Company insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in shares of Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after buying an additional 570,532 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock valued at $2,439,000 after buying an additional 53,703 shares during the period. Royal Bank of Canada boosted its stake in Oklo by 162.6% in the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock worth $2,009,000 after purchasing an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new position in Oklo in the 1st quarter worth $519,000. Finally, NewEdge Advisors LLC boosted its stake in Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company's stock worth $339,000 after purchasing an additional 9,772 shares during the period. Institutional investors and hedge funds own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

OKLO has been the subject of several recent research reports. BNP Paribas upgraded Oklo to a "strong sell" rating in a report on Friday, July 25th. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and increased their price objective for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. William Blair began coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating for the company. HC Wainwright began coverage on Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 target price on the stock. Finally, Daiwa America raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.33.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

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