Oklo (NYSE:OKLO) Trading Down 5.7% – What’s Next?
by Michael Walen · The Markets DailyShares of Oklo Inc. (NYSE:OKLO – Get Free Report) fell 5.7% during mid-day trading on Friday . The stock traded as low as $39.51 and last traded at $40.12. Approximately 11,301,495 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 11,411,329 shares. The stock had previously closed at $42.53.
Analyst Ratings Changes
A number of analysts recently commented on the company. Royal Bank Of Canada set a $80.00 price target on Oklo in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Truist Financial lowered their target price on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Oklo in a report on Monday, August 10th. Finally, Wedbush restated an “outperform” rating and set a $110.00 price target on shares of Oklo in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.03.
Read Our Latest Research Report on OKLO
Oklo Stock Performance
The business has a 50 day moving average of $45.99 and a 200-day moving average of $56.60. The company has a market capitalization of $7.46 billion, a P/E ratio of -42.68 and a beta of 1.17.
Oklo (NYSE:OKLO – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. During the same period in the previous year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 11900.0% on a year-over-year basis. As a group, equities analysts forecast that Oklo Inc. will post -0.9 EPS for the current fiscal year.
Insider Activity
In related news, insider William Carroll Murphy Goodwin sold 11,592 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $461,013.84. Following the completion of the transaction, the insider directly owned 45,268 shares in the company, valued at approximately $1,800,308.36. The trade was a 20.39% decrease in their ownership of the stock. The sale 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, General Counsel Vivek Narayanadas sold 3,264 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total value of $129,809.28. Following the completion of the sale, the general counsel owned 7,822 shares of the company’s stock, valued at $311,080.94. The trade was a 29.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 489,256 shares of company stock valued at $29,886,911 over the last 90 days. Company insiders own 12.70% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after purchasing an additional 44,036 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Oklo by 6,518.7% during the second quarter. California State Teachers Retirement System now owns 8,682,908 shares of the company’s stock valued at $454,377,000 after acquiring an additional 8,551,720 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after purchasing an additional 481,288 shares during the period. State Street Corp raised its position in Oklo by 23.6% during the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after purchasing an additional 584,184 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after buying an additional 185,265 shares during the period. Hedge funds and other institutional investors 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.