Oklo (NYSE:OKLO) Trading Down 4.2% - Here's What Happened

Key Points

• Oklo shares fell 4.2% on Wednesday, trading as low as $53.83 before finishing at $54.08, with volume below its recent average.
• Wall Street analysts remain mixed but generally constructive: Oklo has a Moderate Buy consensus rating, though several firms cut price targets recently and the average target is $83.06.
• The company reported a smaller-than-expected quarterly loss of $0.19 per share, while insiders, including CEO Jacob Dewitte, have sold shares in recent months; meanwhile, hedge funds and other institutions still own the vast majority of the stock.

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 4.2% on Wednesday . The company traded as low as $53.83 and last traded at $54.0830. 8,138,505 shares were traded during trading, a decline of 34% from the average session volume of 12,254,458 shares. The stock had previously closed at $56.48.

Analysts Set New Price Targets

A number of research firms have weighed in on OKLO. Tigress Financial began coverage on Oklo in a research note on Monday, April 27th. They set a "buy" rating and a $130.00 price objective for the company. Citigroup lifted their price objective on Oklo from $73.50 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. B. Riley Financial reduced their price objective on Oklo from $129.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, March 18th. Cantor Fitzgerald reiterated an "overweight" rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, May 13th. Finally, Barclays cut their price target on Oklo from $146.00 to $82.00 and set an "overweight" rating for the company in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Oklo Stock Performance

The company has a 50 day moving average of $63.16 and a two-hundred day moving average of $72.65. The stock has a market cap of $9.41 billion, a PE ratio of -64.38 and a beta of 1.10.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the previous year, the business posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Oklo Inc. will post -0.78 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the completion of the sale, the chief executive officer directly owned 538,039 shares in the company, valued at approximately $36,742,683.31. The trade was a 20.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider owned 36,175 shares of the company's stock, valued at approximately $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 889,849 shares of company stock worth $55,614,037. Corporate insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Oklo by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company's stock worth $835,107,000 after purchasing an additional 44,036 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company's stock worth $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock worth $283,902,000 after purchasing an additional 481,288 shares during the last quarter. State Street Corp lifted its holdings in Oklo by 23.6% in the fourth quarter. State Street Corp now owns 3,060,220 shares of the company's stock valued at $219,601,000 after acquiring an additional 584,184 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Oklo by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company's stock valued at $201,671,000 after acquiring an additional 185,265 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

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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