Oklo (NYSE:OKLO) Stock Price Down 6.9% - Here's Why

Key Points

• Oklo shares fell 6.9% to about $27.95, trading well below their 50-day and 200-day moving averages of $39.36 and $50.54, respectively.
• Analyst sentiment remains mixed: the stock has a consensus “Moderate Buy” rating and an $82.44 price target, but targets range from $41 to $90, while Guggenheim and UBS maintain neutral views and Weiss Ratings rates it a sell.
• Oklo missed quarterly earnings expectations, reporting a loss of $0.28 per share versus the expected $0.16 loss. Insiders have also sold nearly 288,000 shares worth $10.9 million over the past 90 days.

Oklo Inc. (NYSE:OKLO - Get Free Report) shares dropped 6.9% on Friday. The company traded as low as $27.59 and last traded at $27.9480. Approximately 9,450,849 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 11,187,026 shares. The stock had previously closed at $30.01.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKLO. Truist Financial set a $51.00 target price on shares of Oklo in a report on Monday, September 28th. Guggenheim initiated coverage on shares of Oklo in a research note on Thursday, June 25th. They set a "neutral" rating on the stock. UBS Group decreased their target price on Oklo from $55.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, September 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Oklo in a research note on Friday, August 7th. Finally, HC Wainwright restated a "buy" rating and set a $90.00 price target on shares of Oklo in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.44.

Oklo Price Performance

The stock's 50 day simple moving average is $39.36 and its two-hundred day simple moving average is $50.54. The firm has a market cap of $5.20 billion, a P/E ratio of -29.73 and a beta of 1.20.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analysts' expectations 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 posted ($0.18) earnings per share. Equities research analysts anticipate that Oklo Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other news, insider William Carroll Murphy Goodwin sold 11,592 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.77, for a total value of $461,013.84. Following the sale, the insider directly owned 45,268 shares of the company's stock, valued at approximately $1,800,308.36. This represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 stock in a transaction on Monday, September 14th. The stock was sold at an average price of $36.67, for a total value of $233,001.18. Following the completion of the sale, the director directly owned 6,000 shares in the company, valued at approximately $220,020. This represents a 51.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 287,994 shares of company stock valued at $10,863,590 in the last ninety days. Corporate insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently bought and sold shares of OKLO. Bank of New York Mellon Corp purchased a new stake in Oklo during the 2nd quarter valued at about $24,532,000. Bank of America Corp DE boosted its stake in Oklo by 55.3% during the 1st 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 last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Oklo by 427.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 171,128 shares of the company's stock valued at $12,280,000 after purchasing an additional 138,659 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Oklo by 1,184.4% during the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company's stock valued at $8,063,000 after purchasing an additional 103,623 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Oklo by 59.0% during the 1st quarter. Amundi now owns 164,824 shares of the company's stock valued at $8,174,000 after acquiring an additional 61,161 shares during the last quarter. Institutional investors own 85.03% of the company's stock.

About Oklo

Oklo Inc is an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.

The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.

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