Oklo Inc. (NYSE:OKLO – Get Free Report) shares fell 3% during mid-day trading on Monday. The stock traded as low as $26.82 and last traded at $27.1350. 8,399,713 shares traded hands during trading, a decline of 25% from the average daily volume of 11,173,734 shares. The stock had previously closed at $27.97.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. UBS Group lowered their target price on shares of Oklo from $55.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, September 25th. Barclays dropped their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Guggenheim assumed coverage on shares of Oklo in a research report on Thursday, June 25th. They issued a “neutral” rating on the stock. Finally, Citigroup decreased their price target on shares of Oklo from $76.00 to $57.50 and set a “neutral” rating for the company in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average price target of $82.09.
Get Our Latest Research Report on Oklo
Oklo Trading Down 3.0%
The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -28.87 and a beta of 1.20. The stock has a 50-day moving average of $38.95 and a 200-day moving average of $50.41.
Oklo (NYSE:OKLO – Get Free Report) last issued 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 business had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. Oklo’s revenue for the quarter was up 11900.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) earnings per share. As a group, research analysts expect that Oklo Inc. will post -1.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider William Carroll Murphy Goodwin sold 1,775 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $66,367.25. Following the sale, the insider owned 46,787 shares of the company’s stock, valued at $1,749,365.93. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Hanson sold 1,100 shares of Oklo stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $37.39, for a total transaction of $41,129.00. Following the completion of the sale, the insider owned 361,350 shares in the company, valued at approximately $13,510,876.50. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 287,994 shares of company stock worth $10,863,590. 12.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Oklo
Several large investors have recently made changes to their positions in OKLO. AlphaStar Capital Management LLC boosted its position in Oklo by 11.8% during the 3rd quarter. AlphaStar Capital Management LLC now owns 121,791 shares of the company’s stock worth $4,509,000 after acquiring an additional 12,808 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Oklo by 200.5% in the third quarter. TD Waterhouse Canada Inc. now owns 1,124 shares of the company’s stock worth $41,000 after purchasing an additional 750 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Oklo during the third quarter valued at $238,000. Accel Wealth Management acquired a new position in shares of Oklo during the third quarter valued at $224,000. Finally, Thor Investment Management Inc. OH ADV acquired a new position in shares of Oklo during the third quarter valued at $381,000. Institutional investors and hedge funds own 85.03% of the company’s stock.
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.
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