Oklo (NYSE:OKLO) Stock Price Down 7.1% – Time to Sell?
by Jessica Moore · The Cerbat GemOklo Inc. (NYSE:OKLO – Get Free Report) shares were down 7.1% during mid-day trading on Monday. The stock traded as low as $32.19 and last traded at $32.2350. Approximately 10,059,934 shares changed hands during trading, a decline of 10% from the average daily volume of 11,196,441 shares. The stock had previously closed at $34.70.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Guggenheim initiated coverage on shares of Oklo in a research note on Thursday, June 25th. They set a “neutral” rating for the company. Truist Financial set a $51.00 target price on Oklo in a research report on Monday, September 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. Barclays decreased their price objective on Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Finally, Canaccord Genuity Group decreased their target price on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and an average price target of $82.44.
Get Our Latest Stock Report on Oklo
Oklo Stock Down 7.1%
The firm has a 50-day moving average of $40.30 and a two-hundred day moving average of $51.17. The company has a market capitalization of $6.00 billion, a PE ratio of -34.29 and a beta of 1.20.
Oklo (NYSE:OKLO – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. The firm’s quarterly revenue was up 11900.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Equities analysts predict that Oklo Inc. will post -1.02 EPS for the current fiscal year.
Insider Buying and Selling
In other Oklo news, insider William Carroll Murphy Goodwin sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $37.39, for a total transaction of $66,367.25. Following the completion of the sale, the insider directly owned 46,787 shares in the company, valued at approximately $1,749,365.93. The trade was a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexandra Renner sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $41,129.00. Following the completion of the transaction, the insider owned 477,595 shares in the company, valued at approximately $17,857,277.05. This trade represents a 0.23% decrease in their position. 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. Insiders have sold 286,942 shares of company stock worth $10,829,807 in the last 90 days. 12.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI grew its position in shares of Oklo by 1.0% in the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company’s stock valued at $928,000 after purchasing an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Oklo by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company’s stock worth $3,493,000 after buying an additional 183 shares in the last quarter. Triton Wealth Management PLLC lifted its position in Oklo by 1.3% during the first quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company’s stock worth $734,000 after buying an additional 191 shares in the last quarter. Costello Asset Management INC lifted its position in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Finally, Swedbank AB boosted its stake in Oklo by 3.4% during the first quarter. Swedbank AB now owns 10,592 shares of the company’s stock worth $525,000 after buying an additional 345 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.
Oklo Company Profile
Oklo Inc is an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.
The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.