Oklo (NYSE:OKLO) Stock Price Down 1.1% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price traded down 1.1% during mid-day trading on Wednesday . The stock traded as low as $45.83 and last traded at $47.3730. 7,051,288 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 11,974,786 shares. The stock had previously closed at $47.90.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKLO. Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $122.00 price target on shares of Oklo in a research report on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on shares of Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective on the stock. Tigress Financial initiated coverage on shares of Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average price target of $84.18.

Oklo Stock Performance

The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -56.40 and a beta of 1.14. The firm’s 50-day moving average price is $62.38 and its two-hundred day moving average price is $67.35.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Oklo Inc. will post -0.73 EPS for the current year.

Insider Transactions at Oklo

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the sale, the chief executive officer owned 538,039 shares in the company, valued at $36,742,683.31. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 623,629 shares of company stock valued at $40,734,208. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the company. Evanson Financial LLC acquired a new stake in shares of Oklo during the 2nd quarter worth about $232,000. Western Wealth Management LLC acquired a new position in Oklo in the first quarter valued at about $130,000. Pacer Advisors Inc. boosted its position in Oklo by 19.1% in the first quarter. Pacer Advisors Inc. now owns 32,575 shares of the company’s stock valued at $1,615,000 after buying an additional 5,229 shares in the last quarter. Empowered Funds LLC grew its stake in Oklo by 60.8% during the first quarter. Empowered Funds LLC now owns 11,073 shares of the company’s stock worth $549,000 after buying an additional 4,186 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in Oklo by 63.4% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 19,478 shares of the company’s stock worth $966,000 after buying an additional 7,557 shares during the last quarter. 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.