Oklo (NYSE:OKLO) Shares Down 4% - Here's Why

Key Points

• Oklo shares fell 4% to about $38.81 in mid-day trading, below both its 50-day moving average of $41.54 and 200-day moving average of $53.19.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an $83.26 price target, although several firms recently cut their targets. Oklo also missed quarterly EPS expectations, reporting a $0.28 loss per share versus the expected $0.16 loss.
• Company insiders sold significant amounts of stock, including the CEO’s 80,000-share sale and the CFO’s 16,430-share sale; insiders have sold $16.85 million worth of shares over the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 4% during mid-day trading on Wednesday . The company traded as low as $38.76 and last traded at $38.8120. Approximately 7,249,229 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 11,313,840 shares. The stock had previously closed at $40.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price target on Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Citigroup reduced their price target on shares of Oklo from $76.00 to $57.50 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Truist Financial decreased their target price on Oklo from $55.00 to $51.00 and set a "hold" rating on the stock in a research note on Monday, August 10th. UBS Group reduced their price objective on Oklo from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, June 11th. Finally, Wedbush restated an "outperform" rating and set a $110.00 price target on shares of Oklo in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.26.

Oklo Price Performance

The company's 50 day simple moving average is $41.54 and its 200 day simple moving average is $53.19. The company has a market capitalization of $7.22 billion, a PE ratio of -41.29 and a beta of 1.18.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts' expectations of $0.09 million. During the same period in the previous year, the business posted ($0.18) earnings per share. Oklo's revenue was up 11900.0% compared to the same quarter last year. On average, equities analysts forecast that Oklo Inc. will post -0.96 EPS for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Bealmear sold 16,430 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $38.76, for a total transaction of $636,826.80. Following the completion of the sale, the chief financial officer owned 455,976 shares in the company, valued at $17,673,629.76. This represents a 3.48% decrease in their position. The sale 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 80,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $38.69, for a total transaction of $3,095,200.00. Following the sale, the chief executive officer owned 398,039 shares of the company's stock, valued at $15,400,128.91. This trade represents a 16.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 362,030 shares of company stock worth $16,851,123 over the last 90 days. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the business. SHP Wealth Management acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. Costello Asset Management INC lifted its position in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company's stock worth $25,000 after buying an additional 200 shares during the period. Strategic Advocates LLC boosted its position in shares of Oklo by 70.9% in the fourth quarter. Strategic Advocates LLC now owns 663 shares of the company's stock worth $47,000 after acquiring an additional 275 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of Oklo in the 1st quarter valued at $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Oklo during the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company's flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.

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