Oklo (NYSE:OKLO) Stock Price Down 3.7% - What's Next?

Key Points

• Oklo Inc. stock decreased by 3.7%, closing at $70.94, with a significant decline in trading volume to 5.4 million shares from an average of 18.2 million.
• Analysts generally have a positive outlook on Oklo, with a majority rating it as a Moderate Buy and a revised average price target of $63.78.
• Recent insider trading activity included sales by both the director and CEO, with a total of 600,000 shares sold worth over $35 million in the last ninety days.

Oklo Inc. (NYSE:OKLO - Get Free Report) was down 3.7% on Friday . The stock traded as low as $68.77 and last traded at $70.94. Approximately 5,447,638 shares changed hands during trading, a decline of 70% from the average daily volume of 18,182,359 shares. The stock had previously closed at $73.66.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several research reports. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. 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 note on Tuesday. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a research note on Sunday, July 27th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. Finally, Citigroup lifted their price target on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.78.

Oklo Price Performance

The company's 50-day simple moving average is $64.47 and its 200 day simple moving average is $44.23. The firm has a market cap of $10.62 billion, a P/E ratio of -170.48 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total value of $2,742,500.00. Following the sale, the director directly owned 200,000 shares in the company, valued at $10,970,000. The trade was a 20.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the company'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 completion of the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. MML Investors Services LLC boosted its position in shares of Oklo by 104.9% in the 2nd quarter. MML Investors Services LLC now owns 78,221 shares of the company's stock valued at $4,380,000 after purchasing an additional 40,042 shares during the period. Moore Capital Management LP acquired a new position in Oklo in the second quarter valued at about $728,000. IHT Wealth Management LLC acquired a new position in shares of Oklo during the second quarter worth about $322,000. Engineers Gate Manager LP acquired a new position in shares of Oklo during the second quarter worth about $833,000. Finally, Curi Capital LLC acquired a new position in Oklo during the second quarter valued at approximately $298,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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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