Oklo (NYSE:OKLO) Stock Price Down 2.9% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price was down 2.9% during mid-day trading on Tuesday . The stock traded as low as $71.60 and last traded at $71.95. Approximately 8,122,448 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 17,692,855 shares. The stock had previously closed at $74.09.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group began coverage on Oklo in a research report on Thursday, September 25th. They set a “neutral” rating and a $117.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Oklo in a research note on Wednesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 target price on shares of Oklo in a research note on Wednesday, November 12th. Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Finally, Needham & Company LLC initiated coverage on shares of Oklo in a research report on Friday, December 5th. They set a “buy” rating and a $135.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.87.

Oklo Trading Down 2.9%

The company has a market cap of $11.24 billion, a P/E ratio of -133.24 and a beta of 0.73. The company’s 50-day moving average price is $101.91 and its two-hundred day moving average price is $91.63.

Oklo (NYSE:OKLO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period last year, the business posted ($0.08) earnings per share. Equities analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 840,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at approximately $130,065,600. This represents a 34.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,215,562.24. Following the completion of the transaction, the insider owned 8,750 shares of the company’s stock, valued at $891,100. This trade represents a 57.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 932,800 shares of company stock worth $76,755,480 in the last 90 days. 18.90% of the stock is owned by insiders.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new stake in shares of Oklo during the 3rd quarter valued at $27,000. Gables Capital Management Inc. bought a new position in Oklo in the third quarter valued at approximately $28,000. Nemes Rush Group LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at about $28,000. CI Investments Inc. raised its position in Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after buying an additional 179 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oklo in the third quarter valued at approximately $33,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.