Oklo (NYSE:OKLO) Shares Down 4.2% - What's Next?

Key Points

• Oklo Inc. (NYSE:OKLO) experienced a 4.2% decline in its stock price, trading as low as $80.00 before closing at $79.60, with a significant reduction in trading volume.
• Analysts have differing views on Oklo, with ratings ranging from "strong sell" by BNP Paribas to "strong buy" by Daiwa America; the average rating is currently a "Moderate Buy" with a consensus target price of $59.33.
• Recently, insiders sold a substantial amount of stock, including a $16.56 million sale by CEO Jacob Dewitte, raising concerns about insider confidence in the company.

Oklo Inc. (NYSE:OKLO - Get Free Report) was down 4.2% on Thursday . The stock traded as low as $80.00 and last traded at $79.60. Approximately 5,524,009 shares changed hands during trading, a decline of 70% from the average daily volume of 18,228,381 shares. The stock had previously closed at $83.10.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. BNP Paribas Exane assumed coverage on Oklo in a research report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective for the company. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Wedbush set a $75.00 price target on shares of Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. Finally, BNP Paribas upgraded Oklo to a "strong sell" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.33.

Oklo Price Performance

The stock's 50-day moving average price is $61.43 and its 200 day moving average price is $42.49. The firm has a market cap of $11.05 billion, a P/E ratio of -14.64 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. As a group, analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of Oklo stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total value of $9,411,000.00. Following the completion of the transaction, the director owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction dated 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 directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 in the last ninety days. Insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Private Trust Co. NA bought a new stake in Oklo in the 2nd quarter valued at $25,000. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo in the second quarter valued at $25,000. Fourth Dimension Wealth LLC lifted its stake in shares of Oklo by 125.0% during the 2nd 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 last quarter. Creative Financial Designs Inc. ADV grew its stake in Oklo by 107.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Oklo in the 2nd quarter valued at about $35,000. 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.

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