Oklo (NYSE:OKLO) Trading Down 1.6% - Here's What Happened

Key Points

• Oklo Inc.'s share price fell by 1.6% to $69.29, with trading volume dropping 78% from average levels.
• Multiple analysts have recently adjusted their ratings on Oklo, with a consensus rating of "Moderate Buy" and an average target price of $63.90.
• Insiders have sold a total of 600,000 shares of Oklo stock over the last quarter, leading to a decrease in their ownership in the company.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price traded down 1.6% on Monday . The stock traded as low as $67.85 and last traded at $69.29. 3,933,019 shares traded hands during trading, a decline of 78% from the average session volume of 17,924,531 shares. The stock had previously closed at $70.38.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of analyst reports. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. UBS Group assumed coverage on Oklo in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 target price on the stock. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Finally, Craig Hallum lowered shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a research note on Monday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and an average target price of $63.90.

Oklo Trading Down 0.0%

The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of -167.43 and a beta of 0.60. The business has a 50-day moving average price of $65.59 and a two-hundred day moving average price of $45.31.

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

Insider Activity

In related news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the transaction, the director directly owned 200,000 shares of the company's stock, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, 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. Over the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently made changes to their positions in the business. Private Trust Co. NA bought a new stake in Oklo during the second quarter worth approximately $25,000. Caldwell Sutter Capital Inc. acquired a new stake in shares of Oklo during the 2nd quarter valued at $25,000. Fourth Dimension Wealth LLC boosted its stake in shares of Oklo by 125.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after acquiring an additional 250 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Oklo during the 2nd quarter worth $28,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Oklo by 107.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after acquiring an additional 305 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

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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