Oklo Inc. (NYSE:OKLO – Get Free Report) shares traded down 6% on Monday . The stock traded as low as $45.07 and last traded at $45.9270. Approximately 10,042,782 shares were traded during mid-day trading, a decline of 15% from the average session volume of 11,870,109 shares. The stock had previously closed at $48.85.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Oklo from $175.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of Oklo in a research report on Tuesday, May 26th. Citigroup boosted their price objective on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, UBS Group cut their price objective on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Oklo has an average rating of “Moderate Buy” and a consensus price target of $84.00.
Read Our Latest Report on OKLO
Oklo Stock Up 1.1%
Oklo (NYSE:OKLO – Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period last year, the business earned ($0.07) earnings per share. As a group, sell-side analysts forecast that Oklo Inc. will post -0.73 EPS for the current year.
Insider Activity
In other news, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction dated 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 sale, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. The trade was a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the sale, the chief executive officer owned 538,039 shares in the company, valued at approximately $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 90 days, insiders sold 683,629 shares of company stock worth $43,902,208. 18.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. State Street Corp grew its holdings in shares of Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Norges Bank acquired a new stake in shares of Oklo during the 4th quarter worth about $73,786,000. Millennium Management LLC increased its position in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after purchasing an additional 570,532 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after purchasing an additional 481,288 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.
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.
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