Oklo (NYSE:OKLO) Trading Down 5.2% - What's Next?

Key Points

• Oklo shares fell 5.2% to about $38.94, with approximately 8.76 million shares traded. The stock remains below its 50-day and 200-day moving averages of $53.80 and $62.59, respectively.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $88.00, although UBS recently cut its target to $55 and maintained a neutral rating.
• Insiders have sold heavily in recent months, including CEO Jacob DeWitte’s $9.56 million sale, while institutional investors own approximately 85.03% of the company. Oklo reported quarterly EPS of negative $0.19, slightly better than expectations.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 5.2% during trading on Friday . The company traded as low as $38.83 and last traded at $38.9370. Approximately 8,758,627 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 11,570,377 shares. The stock had previously closed at $41.09.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Tigress Financial initiated coverage on shares of Oklo in a report on Monday, April 27th. They set a "buy" rating and a $130.00 target price on the stock. Weiss Ratings upgraded shares of Oklo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. UBS Group lowered their price objective on Oklo from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, June 11th. Wedbush reissued an "outperform" rating and set a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. Finally, HSBC assumed coverage on Oklo in a research report on Thursday, April 23rd. They set a "buy" rating and a $96.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Oklo Trading Down 5.2%

The stock has a market capitalization of $6.77 billion, a P/E ratio of -46.35 and a beta of 1.14. The stock's fifty day moving average price is $53.80 and its two-hundred day moving average price is $62.59.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the business posted ($0.07) EPS. As a group, analysts expect that Oklo Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of Oklo 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 completion of the transaction, the chief executive officer owned 538,039 shares in the company, valued at approximately $36,742,683.31. This represents a 20.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 483,629 shares of company stock valued at $29,855,608. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oklo

A number of large investors have recently bought and sold shares of OKLO. NBC Securities Inc. boosted its stake in shares of Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company's stock valued at $25,000 after purchasing an additional 150 shares during the period. Costello Asset Management INC raised its holdings in Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company's stock valued at $25,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in Oklo by 356.2% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company's stock valued at $26,000 after buying an additional 285 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in Oklo during the 4th quarter valued at $29,000. Finally, SHP Wealth Management purchased a new stake in Oklo during the 4th quarter valued at $32,000. 85.03% of the stock is 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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