Oklo (NYSE:OKLO) Stock Price Down 3.6% – What’s Next?

Oklo Inc. (NYSE:OKLO) dropped 3.6% during mid-day trading on Friday . The company traded as low as $93.49 and last traded at $97.9460. Approximately 15,446,934 shares traded hands during trading, a decline of 17% from the average daily volume of 18,580,324 shares. The stock had previously closed at $101.64.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research report on Wednesday. BNP Paribas Exane assumed coverage on Oklo in a report on Friday, July 25th. They set an “underperform” rating and a $14.00 price target for the company. BTIG Research reissued a “neutral” rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, BNP Paribas raised shares of Oklo to a “strong sell” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Oklo currently has a consensus rating of “Hold” and a consensus target price of $106.29.

Oklo Price Performance

The business has a 50 day simple moving average of $122.45 and a 200 day simple moving average of $79.96. The company has a market capitalization of $14.46 billion, a price-to-earnings ratio of -181.38 and a beta of 0.70.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, November 11th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter last year, the business earned ($0.08) earnings per share. On average, equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the sale, the chief executive officer directly owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Craig Bealmear sold 7,622 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $101.44, for a total transaction of $773,175.68. Following the completion of the transaction, the chief financial officer owned 121,913 shares of the company’s stock, valued at approximately $12,366,854.72. This trade represents a 5.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 491,387 shares of company stock valued at $52,698,580 in the last 90 days. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently bought and sold shares of OKLO. Vanguard Group Inc. increased its stake in shares of Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after buying an additional 2,901,909 shares during the period. State Street Corp raised its holdings in shares of Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC raised its stake in Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after acquiring an additional 1,316,867 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in Oklo during the second quarter worth approximately $40,919,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.