Oklo (NYSE:OKLO) Stock Price Down 3.3% - What's Next?

Key Points

• Oklo shares fell 3.3% to $41.54, below both their 50-day ($48.02) and 200-day ($57.87) moving averages, with trading volume also below average.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $85.03, though targets range widely from $51 to $130.
• The company missed quarterly earnings expectations, reporting a loss of $0.28 per share versus the expected $0.16 loss. Revenue reached $1.21 million and rose sharply year over year, while insiders sold $29.2 million of stock over the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares dropped 3.3% during trading on Thursday . The stock traded as low as $40.77 and last traded at $41.54. Approximately 6,296,444 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 11,416,172 shares. The stock had previously closed at $42.94.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKLO shares. Guggenheim started coverage on Oklo in a research report on Thursday, June 25th. They set a "neutral" rating on the stock. Truist Financial lowered their target price on Oklo from $55.00 to $51.00 and set a "hold" rating for the company in a research note on Monday, August 10th. Royal Bank Of Canada set a $80.00 price target on Oklo in a research report on Friday, May 22nd. Tigress Financial assumed coverage on Oklo in a research note on Monday, April 27th. They issued a "buy" rating and a $130.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.03.

Oklo Price Performance

The firm's 50 day moving average is $48.02 and its 200 day moving average is $57.87. The firm has a market cap of $7.73 billion, a P/E ratio of -44.19 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. During the same period last year, the company earned ($0.18) earnings per share. The business's quarterly revenue was up 11900.0% on a year-over-year basis. As a group, analysts expect that Oklo Inc. will post -0.9 EPS for the current year.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer owned 397,642 shares of the company's stock, valued at $27,206,665.64. This trade represents a 15.53% decrease in their position. The transaction 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, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company's stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 473,081 shares of company stock worth $29,243,402 in the last 90 days. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several large investors have recently modified their holdings of OKLO. Vanguard Group Inc. grew its position in Oklo by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company's stock valued at $835,107,000 after purchasing an additional 44,036 shares during the last quarter. Van ECK Associates Corp raised its holdings in Oklo by 13.9% in the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock worth $283,902,000 after buying an additional 481,288 shares during the last quarter. State Street Corp lifted its stake in shares of Oklo by 23.6% in the fourth quarter. State Street Corp now owns 3,060,220 shares of the company's stock worth $219,601,000 after buying an additional 584,184 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Oklo by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company's stock worth $201,671,000 after buying an additional 185,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Oklo by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company's stock valued at $83,262,000 after buying an additional 90,213 shares during 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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