Oklo (NYSE:OKLO) Trading Down 2.7% - Here's What Happened

Key Points

• Oklo Inc. shares declined by 2.7% on Monday, trading between $154.12 and $159.03, significantly lower than its previous closing price of $163.39.
• Analysts have varying opinions on Oklo, with target prices ranging from $59.00 to $175.00, and a consensus rating of "Hold" with an average target of $98.14.
• The company reported a loss of ($0.18) EPS for the last quarter, missing the consensus estimate, while insiders sold approximately 491,387 shares worth over $52 million in recent months.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price fell 2.7% on Monday . The company traded as low as $154.12 and last traded at $159.03. 16,681,814 shares were traded during trading, a decline of 11% from the average session volume of 18,801,863 shares. The stock had previously closed at $163.39.

Analyst Ratings Changes

A number of research firms have recently weighed in on OKLO. UBS Group set a $175.00 target price on shares of Oklo in a report on Thursday, October 9th. Bank of America restated a "neutral" rating and issued a $117.00 price objective (up from $92.00) on shares of Oklo in a report on Tuesday, September 30th. HC Wainwright raised their price objective on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Citigroup raised their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Craig Hallum lowered shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $98.14.

Oklo Price Performance

The company has a market cap of $23.47 billion, a P/E ratio of -378.64 and a beta of 0.69. The company's 50-day moving average is $102.50 and its two-hundred day moving average is $66.76.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly 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). Equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company's stock, valued at approximately $20,064,000. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,387 shares of company stock worth $52,698,580. Company insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Accurate Wealth Management LLC purchased a new position in shares of Oklo during the 3rd quarter worth $306,000. Miracle Mile Advisors LLC purchased a new position in shares of Oklo during the 3rd quarter worth $285,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Oklo during the 3rd quarter worth $575,000. Merit Financial Group LLC purchased a new position in shares of Oklo during the 3rd quarter worth $262,000. Finally, Marietta Wealth Management LLC purchased a new position in shares of Oklo during the 3rd quarter worth $305,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Company Profile

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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