Oklo (NYSE:OKLO) Shares Down 5.7% - Here's What Happened

Key Points

• Shares fell 5.7% to about $82.42 on Monday with 9.62 million shares traded (down ~47% from the average); Oklo reported quarterly EPS of ($0.20), missing the consensus ($0.13) estimate.
• Analysts are mixed: the consensus rating is a "Hold" with an average target price of $102.87, while individual price targets range widely from $65 to $175 and ratings span Strong Buy to Sell.
• Insiders sold heavily in the last quarter (about 467,800 shares worth $51.53M), yet institutional ownership is high at 85.03% with large position increases from Vanguard, Mirae Asset and VanEck.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 5.7% during trading on Monday . The stock traded as low as $82.00 and last traded at $82.4150. 9,616,934 shares were traded during trading, a decline of 47% from the average session volume of 18,078,916 shares. The stock had previously closed at $87.42.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OKLO shares. Barclays set a $146.00 price target on shares of Oklo in a research report on Monday, September 29th. UBS Group raised their price objective on Oklo from $65.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 3rd. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research report on Wednesday, November 12th. Canaccord Genuity Group initiated coverage on Oklo in a report on Thursday, October 9th. They set a "buy" rating and a $175.00 target price for the company. Finally, B. Riley increased their price target on Oklo from $58.00 to $129.00 and gave the company a "buy" rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Oklo presently has an average rating of "Hold" and a consensus target price of $102.87.

Oklo Stock Performance

The company has a market cap of $12.88 billion, a PE ratio of -152.62 and a beta of 0.73. The company has a 50 day simple moving average of $118.14 and a two-hundred day simple moving average of $89.61.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period last year, the business posted ($0.08) EPS. As a group, analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director directly owned 150,000 shares of the company's stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William Carroll Murphy Goodwin sold 11,936 shares of Oklo stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $101.84, for a total value of $1,215,562.24. Following the sale, the insider directly owned 8,750 shares of the company's stock, valued at approximately $891,100. The trade was a 57.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 467,800 shares of company stock valued at $51,531,823. Insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company's stock valued at $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company's stock valued at $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. Van ECK Associates Corp increased its position in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company's stock worth $387,914,000 after buying an additional 1,316,867 shares during the last quarter. Geode Capital Management LLC increased its position in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after buying an additional 1,488,482 shares during the last quarter. Finally, State Street Corp raised its holdings in Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company's stock valued at $119,743,000 after buying an additional 1,752,946 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.