Oklo (NYSE:OKLO) Shares Down 5.5% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price dropped 5.5% on Tuesday . The stock traded as low as $88.93 and last traded at $89.7080. Approximately 12,472,639 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 15,087,079 shares. The stock had previously closed at $94.95.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OKLO. Bank of America reduced their price target on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $106.00 price objective on shares of Oklo in a research report on Friday, January 9th. Canaccord Genuity Group started coverage on Oklo in a research note on Thursday, October 9th. They issued a “buy” rating and a $175.00 price target on the stock. Barclays set a $146.00 price objective on Oklo in a research report on Monday, September 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $102.13.

Oklo Price Performance

The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of -166.13 and a beta of 0.76. The firm has a 50 day moving average price of $91.15 and a 200-day moving average price of $95.04.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter last year, the firm posted ($0.08) earnings per share. Equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 840,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the completion of the transaction, the chief executive officer owned 1,580,000 shares in the company, valued at $130,065,600. The trade was a 34.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Carroll Murphy Goodwin sold 11,936 shares of the firm’s stock in a transaction 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 sale, the insider owned 8,750 shares in the company, valued at $891,100. The trade was a 57.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,552,800 shares of company stock worth $137,543,426 over the last 90 days. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the business. Black Swift Group LLC acquired a new stake in shares of Oklo during the second quarter worth about $280,000. Prospera Financial Services Inc boosted its position in shares of Oklo by 10.0% in the 2nd quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock valued at $2,880,000 after purchasing an additional 4,678 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in Oklo during the 2nd quarter worth approximately $738,000. Strs Ohio acquired a new position in Oklo during the second quarter worth approximately $1,069,000. Finally, Thoroughbred Financial Services LLC acquired a new position in Oklo during the second quarter worth approximately $1,833,000. 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.