Oklo (NYSE:OKLO) Shares Down 12.8% - What's Next?

Key Points

• Oklo Inc. shares dropped 12.8% to close at $138.63, with trading volume increasing by 19% compared to the average.
• Brokerages have issued mixed ratings for Oklo, with reports ranging from a "strong-buy" downgrade to a "hold" rating and a target price of $146.00.
• The company reported a quarterly earnings loss of ($0.18) EPS, missing estimates, with analysts forecasting an average annual loss of -8.2 EPS for the current year.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 12.8% on Tuesday . The stock traded as low as $136.70 and last traded at $138.63. Approximately 22,420,138 shares traded hands during trading, an increase of 19% from the average daily volume of 18,813,135 shares. The stock had previously closed at $159.05.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKLO. Seaport Res Ptn cut Oklo from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Barclays set a $146.00 price objective on shares of Oklo in a research note on Monday, September 29th. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, William Blair reissued an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $98.14.

Oklo Price Performance

The stock has a market capitalization of $20.46 billion, a PE ratio of -330.06 and a beta of 0.69. The stock's fifty day moving average is $104.24 and its 200-day moving average is $67.73.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, CFO Richard Craig Bealmear sold 92,378 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the transaction, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the transaction, the chief executive officer directly owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,387 shares of company stock worth $52,698,580. Corporate insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Plancorp LLC increased its stake in Oklo by 1.2% during the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company's stock worth $680,000 after buying an additional 73 shares in the last quarter. KBC Group NV boosted its stake in shares of Oklo by 11.8% in the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after acquiring an additional 195 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Oklo in the third quarter worth approximately $27,000. Fourth Dimension Wealth LLC increased its position in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Finally, MRA Advisory Group raised its stake in Oklo by 2.8% in the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock valued at $547,000 after purchasing an additional 266 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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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