Oklo (NYSE:OKLO) Trading Down 4.4% - Here's Why

Key Points

• Oklo shares fell 4.4% to about $44.39 in mid-day trading, with volume below the stock’s average. The decline leaves the stock below its 50-day and 200-day moving averages.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an $85.03 target price, although Barclays and Citigroup recently lowered their price targets to $76 and $57.50, respectively.
• Oklo’s latest quarterly loss was wider than expected, reporting an EPS loss of $0.28 versus the $0.16 estimate, despite revenue of $1.21 million—up 11,900% year over year. Insiders have sold roughly $29.9 million of stock over the past 90 days, while institutional ownership stands at 85.03%.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 4.4% during mid-day trading on Friday . The stock traded as low as $44.32 and last traded at $44.3870. 7,929,042 shares were traded during trading, a decline of 31% from the average daily volume of 11,516,798 shares. The stock had previously closed at $46.45.

Analysts Set New Price Targets

OKLO has been the topic of a number of analyst reports. Barclays lowered their target price on Oklo from $82.00 to $76.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Citigroup cut their price target on Oklo from $76.00 to $57.50 and set a "neutral" rating for the company in a report on Monday. Bank of America assumed coverage on Oklo in a research report on Friday, May 22nd. They issued a "buy" rating and a $80.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price objective on shares of Oklo in a research note on Monday. Finally, Royal Bank Of Canada set a $80.00 price objective on Oklo in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.03.

Oklo Price Performance

The stock's 50-day moving average is $49.12 and its 200-day moving average is $59.10. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -47.22 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same period in the previous year, the business earned ($0.18) EPS. The business's revenue was up 11900.0% compared to the same quarter last year. Analysts predict that Oklo Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the sale, the chief executive officer directly owned 538,039 shares of the company's stock, valued at approximately $36,742,683.31. This trade represents a 20.65% decrease in their position. The sale 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 Oklo stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company's stock, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 483,629 shares of company stock worth $29,855,608. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

Institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Oklo by 454.5% during the second 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 during the period. Norges Bank acquired a new stake in shares of Oklo during the 4th quarter worth $73,786,000. Millennium Management LLC increased its holdings in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after buying an additional 570,532 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Oklo by 13.9% in the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company's stock worth $283,902,000 after buying an additional 481,288 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Oklo in the 2nd quarter worth $24,532,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Company Profile

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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