Oklo (NYSE:OKLO) Stock Falls 3% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price traded down 3% on Monday. The company traded as low as $26.82 and last traded at $27.1350. Approximately 8,399,713 shares changed hands during trading, a decline of 25% from the average session volume of 11,173,734 shares. The stock had previously closed at $27.97.

Analyst Ratings Changes

A number of brokerages recently weighed in on OKLO. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Oklo in a research report on Monday, August 10th. UBS Group cut their target price on Oklo from $55.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, September 25th. Canaccord Genuity Group reduced their target price on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 10th. Guggenheim initiated coverage on shares of Oklo in a research report on Thursday, June 25th. They set a “neutral” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $81.09.

Oklo Stock Performance

The stock has a market cap of $5.12 billion, a PE ratio of -29.25 and a beta of 1.20. The firm has a fifty day moving average price of $38.21 and a 200 day moving average price of $50.11.

Oklo (NYSE:OKLO) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the business posted ($0.18) EPS. Oklo’s revenue was up 11900.0% compared to the same quarter last year. On average, equities research analysts forecast that Oklo Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In other Oklo news, insider William Carroll Murphy Goodwin sold 1,775 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $37.39, for a total value of $66,367.25. Following the completion of the sale, the insider owned 46,787 shares of the company’s stock, valued at approximately $1,749,365.93. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob DeWitte sold 40,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.19, for a total value of $1,447,600.00. Following the sale, the chief executive officer owned 391,533 shares in the company, valued at $14,169,579.27. The trade was a 9.27% 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 a total of 290,353 shares of company stock valued at $10,928,769 in the last 90 days. 12.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Costello Asset Management INC boosted its position in Oklo by 66.7% in the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after buying an additional 200 shares during the last quarter. SHP Wealth Management acquired a new position in Oklo in the 4th quarter worth approximately $32,000. Ascentis Independent Advisors purchased a new position in Oklo during the 1st quarter worth approximately $33,000. TD Waterhouse Canada Inc. raised its position in Oklo by 200.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,124 shares of the company’s stock worth $41,000 after buying an additional 750 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new position in Oklo during the 3rd quarter worth approximately $69,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.