Oklo (NYSE:OKLO) Shares Down 5.7% - Here's What Happened

Key Points

• Oklo shares fell 5.7% to $40.12 on Friday, with approximately 11.3 million shares traded. The stock remains below its 50-day and 200-day moving averages of $45.99 and $56.60, respectively.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $85.03, although Truist lowered its target to $51 and maintained a “Hold” rating.
• Oklo reported a quarterly EPS loss of $0.28, missing the $0.16-loss estimate, while revenue reached $1.21 million. Company insiders sold roughly $29.9 million in stock during the latest quarter, including sales by the CEO and CFO under pre-arranged trading plans.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 5.7% on Friday . The stock traded as low as $39.51 and last traded at $40.12. 11,301,495 shares traded hands during trading, a decline of 1% from the average session volume of 11,411,329 shares. The stock had previously closed at $42.53.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oklo in a report on Friday, August 7th. HC Wainwright reissued a "buy" rating and set a $90.00 target price on shares of Oklo in a research report on Monday, August 10th. Truist Financial cut their target price on Oklo from $55.00 to $51.00 and set a "hold" rating on the stock in a research report on Monday, August 10th. Finally, Wolfe Research assumed coverage on Oklo in a report on Tuesday, May 19th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Oklo presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.03.

Oklo Stock Down 5.7%

The business has a 50-day moving average price of $45.99 and a two-hundred day moving average price of $56.60. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of -42.68 and a beta of 1.17.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. The company's revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. On average, sell-side analysts anticipate that Oklo Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer directly owned 397,642 shares of the company's stock, valued at $27,206,665.64. This represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 489,256 shares of company stock worth $29,886,911 in the last quarter. 12.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently bought and sold shares of OKLO. NBC Securities Inc. boosted its holdings in Oklo by 75.0% during the 4th quarter. NBC Securities Inc. now owns 350 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Vantage Point Financial LLC boosted its holdings in Oklo by 0.8% during the fourth quarter. Vantage Point Financial LLC now owns 21,222 shares of the company's stock worth $1,523,000 after purchasing an additional 169 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Oklo by 6.6% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,800 shares of the company's stock worth $313,000 after purchasing an additional 174 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Oklo by 1.0% in the 1st quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company's stock worth $928,000 after purchasing an additional 182 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Oklo by 0.3% in 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 in the last quarter. Institutional investors own 85.03% of the company's stock.

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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