Oklo (NYSE:OKLO) Trading Down 3.1% - Here's Why

Key Points

• Oklo Inc.'s shares fell by 3.1% to last trade at $134.26, with a total trading volume of approximately 18.34 million shares.
• Analysts have mixed ratings on Oklo, with one rating it as a Strong Buy and others issuing Hold and Sell ratings, leading to a consensus rating of "Hold" and an average price target of $83.77.
• Insiders have sold a significant amount of stock recently, including a director who decreased their position by 25% after selling 50,000 shares.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 3.1% during trading on Tuesday . The stock traded as low as $130.40 and last traded at $134.26. Approximately 18,344,084 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 18,526,887 shares. The stock had previously closed at $138.56.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays set a $146.00 price objective on Oklo in a report on Monday, September 29th. BNP Paribas Exane assumed coverage on shares of Oklo in a research report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price target on the stock. BNP Paribas raised shares of Oklo to a "strong sell" rating in a report on Friday, July 25th. UBS Group initiated coverage on Oklo in a report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, HC Wainwright raised their price target on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $83.77.

Oklo Price Performance

The stock's 50 day moving average is $88.43 and its two-hundred day moving average is $58.55. The firm has a market capitalization of $19.82 billion, a P/E ratio of -319.66 and a beta of 0.69.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, equities research analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. bought a new stake in shares of Oklo in the second quarter worth about $25,000. Private Trust Co. NA bought a new stake in shares of Oklo in the second quarter valued at about $25,000. Fourth Dimension Wealth LLC boosted its position in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Oklo during the second quarter worth about $28,000. Finally, Creative Financial Designs Inc. ADV raised its position in Oklo by 107.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors.

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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