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

Key Points

• Oklo Inc. (NYSE:OKLO) saw its share price decline by 4.2%, with a closing value of $111.58 after trading as low as $109.63.
• Analysts have varied price targets for Oklo, with Bank of America setting a price objective at $117.00 while Barclays set it at $146.00, contrasting with BNP Paribas Exane's $14.00 target.
• Institutional investors own 85.03% of Oklo's stock, with significant increases in holdings reported by major firms like Vanguard Group and State Street Corp in recent quarters.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 4.2% during trading on Tuesday . The company traded as low as $109.63 and last traded at $111.58. Approximately 25,058,303 shares were traded during trading, an increase of 36% from the average daily volume of 18,454,990 shares. The stock had previously closed at $116.51.

Wall Street Analyst Weigh In

OKLO has been the subject of a number of analyst reports. Bank of America reaffirmed a "neutral" rating and set a $117.00 price objective (up from $92.00) on shares of Oklo in a research note on Tuesday. Barclays set a $146.00 price objective on Oklo in a research note on Monday. Cantor Fitzgerald set a $73.00 price objective on Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. BNP Paribas Exane started coverage on Oklo in a research note on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. Finally, Citigroup lifted their target price on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $83.77.

Oklo Stock Down 4.2%

The company has a fifty day simple moving average of $83.08 and a two-hundred day simple moving average of $55.16. The stock has a market capitalization of $16.47 billion, a P/E ratio of -265.66 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly 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 analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In other news, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the sale, the director directly owned 150,000 shares in the company, valued at $20,064,000. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The disclosure for this sale can be found here. Insiders have sold a total of 191,387 shares of company stock worth $19,020,580 over the last three months. Corporate insiders own 18.90% of the company's stock.

Institutional Trading of Oklo

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Oklo by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock worth $94,770,000 after acquiring an additional 37,718 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after purchasing an additional 1,488,482 shares during the last quarter. State Street Corp raised its stake in shares of Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Compound Planning Inc. boosted its holdings in shares of Oklo by 6.2% in the 1st quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after buying an additional 56,437 shares during the last quarter. Finally, Portland Investment Counsel Inc. grew its stake in shares of Oklo by 0.6% in the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after buying an additional 5,000 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.