Oklo (NYSE:OKLO) Hits New 1-Year Low - Here's What Happened

Key Points

• Oklo shares hit a new 52-week low, trading as low as $24.38 and closing near $24.54, well below their 50-day and 200-day moving averages.
• Analysts have recently lowered their price targets, although the stock retains a consensus “Moderate Buy” rating with an average target of $73.83.
• Oklo missed quarterly EPS expectations, reporting a loss of $0.28 per share versus the expected $0.16 loss; insiders have also sold about $11.0 million in stock over the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price reached a new 52-week low on Monday. The stock traded as low as $24.38 and last traded at $24.5440, with a volume of 3,092,574 shares trading hands. The stock had previously closed at $25.25.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OKLO shares. TD Cowen began coverage on Oklo in a research note on Monday, October 26th. They issued a "hold" rating and a $26.00 price objective on the stock. Citigroup reduced their price objective on Oklo from $57.50 to $33.00 and set a "neutral" rating for the company in a research report on Wednesday, October 21st. UBS Group lowered their price objective on shares of Oklo from $55.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, September 25th. Barclays dropped their target price on shares of Oklo from $76.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 20th. Finally, B. Riley Financial cut their target price on shares of Oklo from $92.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.83.

Oklo Price Performance

The firm has a market capitalization of $4.42 billion, a P/E ratio of -25.09 and a beta of 1.31. The company's 50 day moving average price is $35.53 and its 200 day moving average price is $54.14.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. Oklo's revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, research analysts anticipate that Oklo Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William Carroll Murphy Goodwin sold 1,775 shares of the business's stock in a transaction on Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $66,367.25. Following the sale, the insider directly owned 46,787 shares of the company's stock, valued at approximately $1,749,365.93. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Vivek Narayanadas sold 1,021 shares of the company's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $26.50, for a total value of $27,056.50. Following the transaction, the general counsel directly owned 10,669 shares of the company's stock, valued at $282,728.50. This represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 291,374 shares of company stock valued at $10,955,825. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its stake in Oklo by 1.0% in the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock valued at $928,000 after acquiring an additional 182 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Oklo by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company's stock worth $3,493,000 after purchasing an additional 183 shares during the last quarter. Triton Wealth Management PLLC lifted its holdings in Oklo by 1.3% during the 1st quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company's stock worth $734,000 after purchasing an additional 191 shares during the last quarter. Costello Asset Management INC boosted its stake in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company's stock valued at $25,000 after purchasing an additional 200 shares during the period. Finally, Swedbank AB boosted its stake in Oklo by 3.4% in the 1st quarter. Swedbank AB now owns 10,592 shares of the company's stock valued at $525,000 after purchasing an additional 345 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

About Oklo

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.

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