Oklo (NYSE:OKLO) Stock Price Down 5.5% - What's Next?

Key Points

• Oklo shares fell 5.5% to about $39.79 in Monday trading, with volume below the stock’s average. The company has a $7.4 billion market capitalization and trades below both its 50-day and 200-day moving averages.
• Analysts remain broadly optimistic, giving Oklo a consensus “Moderate Buy” rating and an average price target of $85.03, although ratings range from “Strong Buy” to “Sell.” The company’s latest quarterly loss of $0.28 per share missed estimates, despite revenue rising sharply year over year to $1.21 million.
• Insiders have been selling shares, including recent transactions by the CFO and CEO; insiders sold 473,081 shares worth $29.2 million over the past 90 days. Meanwhile, institutional investors own 85.03% of the stock, with several hedge funds increasing their positions.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 5.5% during trading on Monday . The stock traded as low as $39.42 and last traded at $39.7910. Approximately 7,422,039 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 11,361,429 shares. The stock had previously closed at $42.09.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent research reports. Wedbush reiterated an "outperform" rating and set a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $122.00 price objective on shares of Oklo in a research note on Wednesday, May 13th. Royal Bank Of Canada set a $80.00 target price on Oklo in a report on Friday, May 22nd. HC Wainwright reaffirmed a "buy" rating and set a $90.00 target price on shares of Oklo in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Oklo in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.03.

Oklo Stock Performance

The stock has a market cap of $7.40 billion, a PE ratio of -42.33 and a beta of 1.17. The firm has a fifty day moving average price of $47.39 and a 200 day moving average price of $57.38.

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 the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analysts' expectations of $0.09 million. During the same quarter last year, the business posted ($0.18) EPS. Oklo's revenue was up 11900.0% compared to the same quarter last year. On average, equities research analysts forecast that Oklo Inc. will post -0.9 earnings per share for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the transaction, the chief executive officer directly owned 511,533 shares of the company's stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 473,081 shares of company stock worth $29,243,402 in the last 90 days. Insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in shares of Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock worth $2,009,000 after buying an additional 57,497 shares during the period. AQR Capital Management LLC purchased a new position in Oklo in the 1st quarter worth $519,000. Millennium Management LLC raised its stake in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after acquiring an additional 570,532 shares during the last quarter. NewEdge Advisors LLC lifted its position in Oklo by 165.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company's stock worth $339,000 after acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock worth $2,439,000 after acquiring an additional 53,703 shares during the period. 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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