Oklo (NYSE:OKLO) Stock Price Down 2.5% - Here's Why

Key Points

• Oklo shares fell 2.5% to about $37.11, with trading volume 43% below the average session volume. The stock remains below its 50-day and 200-day moving averages of $41.27 and $52.72, respectively.
• Analyst sentiment remains positive but targets have been reduced: Oklo has a consensus “Moderate Buy” rating and an average price target of $82.44, despite recent cuts from Canaccord Genuity and Citigroup.
• Oklo missed quarterly earnings expectations, reporting a loss of $0.28 per share versus the forecasted $0.16 loss. Insiders also sold roughly 362,030 shares worth $16.85 million over the past quarter.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price dropped 2.5% on Monday. The company traded as low as $36.91 and last traded at $37.1070. Approximately 6,406,312 shares changed hands during trading, a decline of 43% from the average session volume of 11,236,190 shares. The stock had previously closed at $38.04.

Wall Street Analysts Forecast Growth

OKLO has been the topic of several analyst reports. Canaccord Genuity Group dropped 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. Citigroup reduced their price target on shares of Oklo from $76.00 to $57.50 and set a "neutral" rating for the company in a research report on Monday, August 10th. HC Wainwright restated a "buy" rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. Truist Financial set a $51.00 price objective on shares of Oklo in a report on Monday. Finally, Guggenheim began coverage on Oklo in a research report on Thursday, June 25th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.44.

Oklo Trading Down 2.5%

The firm has a fifty day moving average of $41.27 and a 200 day moving average of $52.72. The company has a market capitalization of $6.90 billion, a P/E ratio of -39.48 and a beta of 1.18.

Oklo (NYSE:OKLO - Get Free Report) last posted its 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 business had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. The business's revenue for the quarter was up 11900.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Sell-side analysts anticipate that Oklo Inc. will post -0.96 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, General Counsel Vivek Narayanadas sold 3,264 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.77, for a total transaction of $129,809.28. Following the transaction, the general counsel owned 7,822 shares in the company, valued at $311,080.94. This represents a 29.44% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Jansen sold 6,354 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $36.67, for a total transaction of $233,001.18. Following the completion of the sale, the director owned 6,000 shares in the company, valued at $220,020. This represents a 51.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 362,030 shares of company stock valued at $16,851,123 over the last quarter. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. MCF Advisors LLC grew its holdings in shares of Oklo by 201.0% in the second quarter. MCF Advisors LLC now owns 1,559 shares of the company's stock worth $82,000 after acquiring an additional 1,041 shares during the period. Integrated Wealth Concepts LLC increased its position in Oklo by 74.2% during the second quarter. Integrated Wealth Concepts LLC now owns 12,731 shares of the company's stock valued at $666,000 after acquiring an additional 5,423 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Oklo by 15.2% in the second quarter. NewEdge Advisors LLC now owns 41,362 shares of the company's stock valued at $2,164,000 after acquiring an additional 5,468 shares during the period. IFP Advisors Inc lifted its holdings in Oklo by 6.6% in the second quarter. IFP Advisors Inc now owns 7,143 shares of the company's stock valued at $374,000 after acquiring an additional 441 shares during the period. Finally, Allworth Financial LP lifted its holdings in Oklo by 21.1% in the second quarter. Allworth Financial LP now owns 3,815 shares of the company's stock valued at $200,000 after acquiring an additional 666 shares during the period. 85.03% of the stock is owned by institutional investors.

About Oklo

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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