Oklo (NYSE:OKLO) Shares Gap Down – Here’s What Happened

Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Friday . The stock had previously closed at $111.65, but opened at $105.99. Oklo shares last traded at $105.1150, with a volume of 4,346,304 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a research report on Wednesday, November 12th. Canaccord Genuity Group began coverage on Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 target price for the company. HC Wainwright lifted their target price on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Needham & Company LLC assumed coverage on shares of Oklo in a report on Friday. They issued a “buy” rating and a $135.00 price target on the stock. Finally, UBS Group raised their price objective on shares of Oklo from $65.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Oklo presently has a consensus rating of “Hold” and an average price target of $102.87.

Oklo Stock Performance

The firm has a 50 day moving average price of $120.26 and a two-hundred day moving average price of $86.68. The company has a market cap of $16.25 billion, a P/E ratio of -191.68 and a beta of 0.73.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the firm earned ($0.08) EPS. On average, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, insider William Carroll Murphy Goodwin sold 11,936 shares of Oklo stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $101.84, for a total value of $1,215,562.24. Following the completion of the transaction, the insider directly owned 8,750 shares in the company, valued at approximately $891,100. The trade was a 57.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the sale, the director directly owned 150,000 shares in the company, valued at $20,064,000. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 467,800 shares of company stock valued at $51,531,823 in the last quarter. Corporate insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Institutional investors have recently added to or reduced their stakes in the stock. Black Swift Group LLC purchased a new stake in Oklo in the 2nd quarter worth approximately $280,000. Bouvel Investment Partners LLC bought a new position in shares of Oklo in the second quarter worth $2,263,000. Prospera Financial Services Inc increased its holdings in shares of Oklo by 10.0% in the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after purchasing an additional 4,678 shares during the period. Strs Ohio purchased a new stake in shares of Oklo in the second quarter worth $1,069,000. Finally, Wealthedge Investment Advisors LLC bought a new stake in Oklo during the second quarter valued at $738,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.