Oklo (NYSE:OKLO) Trading Down 4.2% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares were down 4.2% during trading on Wednesday . The company traded as low as $53.83 and last traded at $54.0830. Approximately 8,138,505 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 12,254,458 shares. The stock had previously closed at $56.48.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OKLO shares. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Wednesday, March 18th. Needham & Company LLC decreased their price objective on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Bank of America started coverage on Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Wolfe Research assumed coverage on Oklo in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Oklo Stock Down 4.2%

The business has a 50-day moving average price of $63.16 and a two-hundred day moving average price of $72.65. The firm has a market cap of $9.41 billion, a PE ratio of -64.38 and a beta of 1.10.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts predict that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.29, for a total value of $9,560,600.00. Following the transaction, the chief executive officer owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 889,849 shares of company stock worth $55,614,037 in the last three months. 18.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the stock. Nemes Rush Group LLC acquired a new position in Oklo in the third quarter valued at $28,000. CI Investments Inc. boosted its stake in shares of Oklo by 153.0% during the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after buying an additional 179 shares during the period. Comprehensive Financial Planning Inc. PA lifted its position in Oklo by 950.0% in the third quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock valued at $35,000 after purchasing an additional 285 shares during the period. Rossby Financial LCC lifted its position in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Finally, NBC Securities Inc. lifted its position in Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.