Oklo (NYSE:OKLO) Shares Down 1.7% - Here's What Happened

Key Points

• Oklo Inc. shares fell by 1.7%, trading at $69.85 after hitting a low of $68.02, with a notable drop in trading volume of 80% compared to its average.
• Analysts have set new price targets for Oklo, with Wedbush raising their target from $75.00 to $80.00, and HC Wainwright increasing theirs from $55.00 to $90.00, reflecting a generally positive outlook.
• Despite missing earnings expectations with a reported EPS of (0.18), insiders have sold significant shares, including the CEO and a director, indicating possible shifts in confidence among company leadership.

Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 1.7% on Monday . The stock traded as low as $68.02 and last traded at $69.85. 3,677,785 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 18,123,150 shares. The stock had previously closed at $71.06.

Analysts Set New Price Targets

Several research firms recently commented on OKLO. William Blair reaffirmed an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Wedbush increased their price target on Oklo from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. HC Wainwright increased their price target on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Daiwa Capital Markets raised Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Finally, Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.78.

Oklo Price Performance

The firm has a 50 day simple moving average of $64.88 and a 200-day simple moving average of $44.57. The company has a market cap of $10.27 billion, a price-to-earnings ratio of -166.07 and a beta of 0.60.

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

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 600,000 shares of company stock valued at $35,066,500. Company insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV boosted its position in shares of Oklo by 11.8% during the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after buying an additional 195 shares during the period. Fourth Dimension Wealth LLC boosted 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 buying an additional 250 shares during the period. MRA Advisory Group boosted its holdings in Oklo by 2.8% in the second 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 period. Rothschild Investment LLC boosted its holdings in Oklo by 82.9% in the second quarter. Rothschild Investment LLC now owns 640 shares of the company's stock valued at $36,000 after purchasing an additional 290 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Oklo by 107.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 305 shares during the period. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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