Oklo (NYSE:OKLO) Shares Down 2.2% - What's Next?

Key Points

• Oklo Inc. shares fell 2.2% to $76.74, trading volume decreased significantly by 47% compared to its average daily volume.
• Analysts have given mixed ratings, with Oklo achieving a consensus rating of "Moderate Buy" and an average price target of $63.78.
• Significant insider selling occurred, with CEO Jacob Dewitte and Director Michael Stuart Klein selling a combined total of 350,000 shares recently.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares were down 2.2% during trading on Wednesday . The company traded as low as $75.60 and last traded at $76.74. Approximately 9,592,604 shares traded hands during trading, a decline of 47% from the average daily volume of 18,237,961 shares. The stock had previously closed at $78.47.

Analyst Ratings Changes

A number of analysts recently commented on OKLO shares. Cantor Fitzgerald set a $73.00 price target on Oklo and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Daiwa Capital Markets raised Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. BNP Paribas raised Oklo to a "strong sell" rating in a research report on Friday, July 25th. Daiwa America raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and raised their target price for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and an average price target of $63.78.

Oklo Price Performance

The company has a market cap of $10.79 billion, a P/E ratio of -184.07 and a beta of 0.60. The company has a 50 day moving average of $63.37 and a 200-day moving average of $43.70.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly 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 year.

Insider Transactions at Oklo

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

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. WCG Wealth Advisors LLC bought a new position in Oklo during the 2nd quarter valued at approximately $2,029,000. Seven Grand Managers LLC bought a new position in Oklo during the 2nd quarter valued at approximately $11,198,000. Wealthedge Investment Advisors LLC bought a new position in Oklo during the 2nd quarter valued at approximately $738,000. HBK Investments L P bought a new position in Oklo during the 2nd quarter valued at approximately $420,000. Finally, New York State Common Retirement Fund bought a new position in Oklo during the 2nd quarter valued at approximately $1,999,000. Institutional investors own 85.03% of the company's stock.

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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