Oklo (NYSE:OKLO) Shares Down 6.2% - Here's Why

Key Points

• Oklo shares fell 6.2% to about $64.82 on Wednesday, trading ~15.88 million shares (up ~39% vs. average) after a prior close of $69.09.
• Analysts revised views: Goldman Sachs cut its price target from $91 to $65 and set a "neutral" rating, while the consensus remains a “Moderate Buy” with an average target of $87.68.
• The company missed quarterly EPS estimates (reported −$0.27 vs. −$0.17 expected) and insiders have sold heavily—818,766 shares (~$50.9M) in the last three months—though insiders still own 18.9% of the stock.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) were down 6.2% during trading on Wednesday . The company traded as low as $63.20 and last traded at $64.8160. Approximately 15,882,763 shares traded hands during trading, an increase of 39% from the average daily volume of 11,442,563 shares. The stock had previously closed at $69.09.

Analyst Ratings Changes

A number of analysts have recently commented on OKLO shares. The Goldman Sachs Group cut their price target on Oklo from $91.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Cantor Fitzgerald reissued an "overweight" rating and set a $122.00 price target on shares of Oklo in a research note on Wednesday, March 18th. Bank of America raised Oklo from a "neutral" rating to a "buy" rating and lifted their price target for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Texas Capital upgraded Oklo to a "strong-buy" rating in a research report on Tuesday, January 27th. Finally, Citigroup lowered their price objective on Oklo from $95.00 to $73.50 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus price target of $87.68.

Oklo Stock Performance

The stock has a 50-day moving average of $59.66 and a two-hundred day moving average of $84.84. The company has a market cap of $11.27 billion, a P/E ratio of -90.02 and a beta of 0.93.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.10). During the same period last year, the company earned ($0.74) earnings per share. Research analysts predict that Oklo Inc. will post -0.75 EPS for the current year.

Insider Activity at Oklo

In other news, CFO Richard Craig Bealmear sold 72,090 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the sale, the chief financial officer directly owned 386,008 shares in the company, valued at approximately $23,160,480. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $75.18, for a total value of $10,525,200.00. Following the completion of the transaction, the chief executive officer directly owned 739,023 shares in the company, valued at approximately $55,559,749.14. This trade represents a 15.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 818,766 shares of company stock worth $50,855,915. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Parkside Financial Bank & Trust grew its position in Oklo by 3.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company's stock worth $293,000 after acquiring an additional 94 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Oklo by 1.5% in the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company's stock valued at $789,000 after acquiring an additional 101 shares in the last quarter. Meriwether Wealth & Planning LLC raised its stake in Oklo by 2.7% in the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company's stock valued at $326,000 after buying an additional 120 shares in the last quarter. Rossby Financial LCC raised its stake in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company's stock valued at $41,000 after buying an additional 150 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company's stock valued at $25,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company's stock.

About Oklo

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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