Oklo (NYSE:OKLO) Stock Price Down 7.6% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price traded down 7.6% during mid-day trading on Friday . The company traded as low as $78.91 and last traded at $79.50. 10,653,737 shares changed hands during trading, a decline of 25% from the average session volume of 14,274,839 shares. The stock had previously closed at $86.04.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OKLO shares. UBS Group reissued a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $106.00 price target on shares of Oklo in a report on Friday, January 9th. Zacks Research downgraded Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Texas Capital raised shares of Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, B. Riley boosted their target price on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Oklo presently has an average rating of “Moderate Buy” and an average price target of $103.20.

Oklo Price Performance

The company has a market cap of $12.42 billion, a price-to-earnings ratio of -147.22 and a beta of 0.76. The firm has a fifty day simple moving average of $89.16 and a 200 day simple moving average of $96.71.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period last year, the company earned ($0.08) EPS. Analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity

In other news, CEO Jacob Dewitte sold 26,740 shares of Oklo stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $111.38, for a total value of $2,978,301.20. Following the transaction, the chief executive officer directly owned 808,197 shares in the company, valued at approximately $90,016,981.86. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $76.97, for a total value of $397,088.23. Following the transaction, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at $15,156,393.61. This represents a 2.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,552,800 shares of company stock worth $137,543,426. 18.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $1,294,179,000 after buying an additional 2,901,909 shares during the last quarter. State Street Corp lifted its stake in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after buying an additional 1,752,946 shares during the period. Geode Capital Management LLC grew its position in Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after acquiring an additional 1,316,867 shares during the period. 85.03% of the stock is owned by institutional investors.

Oklo Company Profile

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.