Oklo (NYSE:OKLO) Sets New 52-Week Low - Here's What Happened

Key Points

• Oklo shares fell to a new 52-week low of $25.69, closing near $25.65 and well below the 50-day and 200-day moving averages of $37.11 and $49.66, respectively.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $75.56 price target, although several firms recently lowered their targets and Weiss Ratings maintained a sell rating.
• Oklo reported a quarterly EPS loss of $0.28, missing estimates for a $0.16 loss, while revenue reached $1.21 million; insiders have also sold 291,374 shares worth approximately $11.0 million over the past quarter.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares hit a new 52-week low during trading on Monday. The stock traded as low as $25.69 and last traded at $25.65, with a volume of 716,225 shares changing hands. The stock had previously closed at $26.35.

Wall Street Analyst Weigh In

A number of research firms have commented on OKLO. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oklo in a report on Friday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $90.00 target price on shares of Oklo in a research note on Monday, August 10th. Barclays dropped their price objective on Oklo from $76.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday, October 20th. Canaccord Genuity Group cut their target price on shares of Oklo from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Finally, UBS Group cut their price target on Oklo from $55.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.56.

Oklo Stock Up 0.2%

The business's fifty day moving average is $37.11 and its 200 day moving average is $49.66. The stock has a market cap of $4.91 billion, a PE ratio of -27.87 and a beta of 1.20.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. The firm's quarterly revenue was up 11900.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. As a group, analysts predict that Oklo Inc. will post -1.00 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Vivek Narayanadas sold 1,021 shares of the business's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $26.50, for a total value of $27,056.50. Following the completion of the sale, the general counsel owned 10,669 shares of the company's stock, valued at approximately $282,728.50. The trade was a 8.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob DeWitte sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $36.19, for a total value of $1,447,600.00. Following the sale, the chief executive officer owned 391,533 shares in the company, valued at $14,169,579.27. The trade was a 9.27% 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. In the last quarter, insiders have sold 291,374 shares of company stock valued at $10,955,825. Company insiders own 12.70% of the company's stock.

Institutional Trading of Oklo

Several hedge funds have recently bought and sold shares of OKLO. Bank of America Corp DE increased its holdings in shares of Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock valued at $30,760,000 after purchasing an additional 220,976 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Oklo by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company's stock worth $25,632,000 after purchasing an additional 5,945 shares during the last quarter. Swiss National Bank boosted its holdings in Oklo by 7.1% during the first quarter. Swiss National Bank now owns 324,900 shares of the company's stock worth $16,112,000 after buying an additional 21,400 shares in the last quarter. Amundi grew its position in Oklo by 59.0% in the first quarter. Amundi now owns 164,824 shares of the company's stock worth $8,174,000 after buying an additional 61,161 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Oklo by 11.9% during the 1st quarter. Cetera Investment Advisers now owns 143,299 shares of the company's stock valued at $7,106,000 after acquiring an additional 15,216 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

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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