Oklo (NYSE:OKLO) Shares Down 6% - What's Next?

Key Points

• Oklo shares fell 6% on Monday, trading as low as $45.07 after closing at $48.85 the prior day, with volume below average at about 10.0 million shares.
• Analyst sentiment remains mixed but generally constructive: the stock has a Moderate Buy consensus and an average price target of $85.81, though Goldman Sachs recently cut its target to $65 and several firms have issued neutral ratings.
• Recent company updates include a smaller-than-expected quarterly loss of $(0.19) per share, but insiders have also been selling shares, including CEO Jacob Dewitte’s June sale under a pre-arranged trading plan.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 6% on Monday . The company traded as low as $45.07 and last traded at $45.9270. 10,042,782 shares were traded during trading, a decline of 15% from the average session volume of 11,870,109 shares. The stock had previously closed at $48.85.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Oklo from $91.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Guggenheim initiated coverage on shares of Oklo in a research report on Thursday, June 25th. They set a "neutral" rating for the company. Bank of America began coverage on shares of Oklo in a research report on Friday, May 22nd. They set a "buy" rating and a $80.00 target price on the stock. JPMorgan Chase & Co. began coverage on Oklo in a report on Monday, May 11th. They issued a "neutral" rating and a $83.00 price target for the company. Finally, Zacks Research upgraded Oklo from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $85.81.

Oklo Stock Down 6.0%

The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of -54.67 and a beta of 1.14. The stock's 50 day moving average price is $61.09 and its two-hundred day moving average price is $66.66.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, equities analysts expect that Oklo Inc. will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 140,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the transaction, the chief executive officer owned 538,039 shares of the company's stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 683,629 shares of company stock valued at $43,902,208. 18.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in the stock. Meriwether Wealth & Planning LLC grew its holdings in shares of Oklo by 2.7% during the 4th quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company's stock valued at $326,000 after purchasing an additional 120 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Vantage Point Financial LLC boosted its stake in Oklo by 0.8% in the fourth quarter. Vantage Point Financial LLC now owns 21,222 shares of the company's stock valued at $1,523,000 after acquiring an additional 169 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Oklo by 6.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,800 shares of the company's stock valued at $313,000 after purchasing an additional 174 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its stake in Oklo by 1.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock worth $928,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Company Profile

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.

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