Oklo (NYSE:OKLO) Stock Price Down 2.8% - Here's Why

Key Points

• Oklo Inc. shares fell by 2.8% to $70.21, with trading volume dropping to 3 million, an 83% decline from average daily volume.
• Various analysts have issued mixed ratings for Oklo, with targets ranging from $55.00 to $90.00, resulting in an average rating of "Moderate Buy" and an average price target of $66.45.
• Insider transactions revealed significant stock sales, including 150,000 shares sold by Director Michael Stuart Klein, indicating a 37.50% decrease in their ownership stake.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares were down 2.8% on Thursday . The stock traded as low as $70.38 and last traded at $70.21. Approximately 3,018,839 shares changed hands during trading, a decline of 83% from the average daily volume of 17,758,840 shares. The stock had previously closed at $72.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OKLO shares. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Wedbush increased their price objective on shares of Oklo from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. HC Wainwright raised their price target on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a report on Monday, June 23rd. Finally, Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.45.

Oklo Price Performance

The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of -165.83 and a beta of 0.59. The business's fifty day moving average price is $67.75 and its 200-day moving average price is $46.54.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the firm'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 transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at $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 600,000 shares of company stock valued at $35,066,500 over the last quarter. Corporate insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OKLO. Barclays PLC lifted its position in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. First Trust Advisors LP bought a new stake in Oklo in the fourth quarter worth about $267,000. Tower Research Capital LLC TRC raised its position in Oklo by 1,048.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,859 shares of the company's stock worth $103,000 after acquiring an additional 4,436 shares during the period. Northern Trust Corp raised its position in Oklo by 10.7% in the fourth quarter. Northern Trust Corp now owns 167,304 shares of the company's stock worth $3,552,000 after acquiring an additional 16,222 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Oklo in the fourth quarter worth about $354,000. 85.03% of the stock is owned by institutional investors.

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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