Oklo (NYSE:OKLO) Trading Down 1.4% - Here's What Happened

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were down 1.4% on Monday . The company traded as low as $51.88 and last traded at $52.99. Approximately 4,438,522 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 14,490,436 shares. The stock had previously closed at $53.72.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BTIG Research assumed coverage on shares of Oklo in a research note on Friday, April 11th. They set a "neutral" rating on the stock. Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price on the stock. in a research note on Monday, June 23rd. William Blair began coverage on shares of Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. Wedbush set a $75.00 target price on Oklo and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Citigroup restated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Oklo Price Performance

The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of -9.98 and a beta of 0.57. The business has a fifty day moving average of $47.46 and a 200 day moving average of $36.14.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, equities research analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Stuart Klein sold 150,000 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total value of $9,411,000.00. Following the transaction, the director owned 250,000 shares in the company, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 600,000 shares of company stock worth $35,066,500. Corporate insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

A number of large investors have recently modified their holdings of the stock. MRA Advisory Group increased its position in shares of Oklo by 2.8% during the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after acquiring an additional 266 shares during the period. Barclays PLC increased its position in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after acquiring an additional 416 shares during the period. Signaturefd LLC increased its position in shares of Oklo by 5.4% during the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after acquiring an additional 462 shares during the period. Spire Wealth Management increased its holdings in Oklo by 14.1% in the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after buying an additional 481 shares during the last quarter. Finally, Intrua Financial LLC increased its holdings in Oklo by 4.2% in the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after buying an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Company Profile

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.