Oklo (NYSE:OKLO) Trading Down 1.9% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price fell 1.9% on Friday . The stock traded as low as $49.56 and last traded at $50.0640. 22,478,251 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 12,124,853 shares. The stock had previously closed at $51.01.

Analyst Ratings Changes

OKLO has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price target for the company. Bank of America assumed coverage on Oklo in a research report on Friday, May 22nd. They set a “buy” rating and a $80.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. Weiss Ratings raised Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and a consensus target price of $84.18.

Oklo Stock Down 1.9%

The business’s fifty day moving average is $64.76 and its 200 day moving average is $69.53. The stock has a market cap of $8.71 billion, a PE ratio of -59.60 and a beta of 1.10.

Oklo (NYSE:OKLO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. As a group, analysts predict that Oklo Inc. will post -0.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the transaction, the insider directly owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 699,971 shares of company stock worth $44,221,357 in the last quarter. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Western Wealth Management LLC acquired a new position in shares of Oklo during the 1st quarter worth $130,000. Pacer Advisors Inc. grew its stake in Oklo by 19.1% in the 1st quarter. Pacer Advisors Inc. now owns 32,575 shares of the company’s stock valued at $1,615,000 after acquiring an additional 5,229 shares during the last quarter. Empowered Funds LLC increased its holdings in Oklo by 60.8% during the 1st quarter. Empowered Funds LLC now owns 11,073 shares of the company’s stock valued at $549,000 after acquiring an additional 4,186 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in Oklo by 63.4% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 19,478 shares of the company’s stock valued at $966,000 after acquiring an additional 7,557 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Oklo by 56.8% during the first quarter. NewEdge Advisors LLC now owns 35,894 shares of the company’s stock worth $1,780,000 after acquiring an additional 13,002 shares during the last quarter. Hedge funds and other institutional investors 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.