Oklo (NYSE:OKLO) Shares Down 5.5% – Here’s Why
by Renee Jackson · The Cerbat GemOklo Inc. (NYSE:OKLO – Get Free Report)’s share price was down 5.5% during trading on Friday . The company traded as low as $76.16 and last traded at $76.8490. Approximately 7,049,355 shares were traded during trading, a decline of 60% from the average daily volume of 17,773,947 shares. The stock had previously closed at $81.31.
Wall Street Analysts Forecast Growth
Several research analysts have commented on OKLO shares. Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. The Goldman Sachs Group started coverage on Oklo in a report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 target price on the stock. Canaccord Genuity Group initiated coverage on Oklo in a report on Thursday, October 9th. They set a “buy” rating and a $175.00 price target for the company. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Finally, Seaport Res Ptn raised Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.87.
View Our Latest Stock Report on Oklo
Oklo Trading Down 5.5%
The stock has a fifty day simple moving average of $105.34 and a two-hundred day simple moving average of $90.97. The company has a market cap of $12.01 billion, a PE ratio of -142.31 and a beta of 0.73.
Oklo (NYSE:OKLO – Get Free Report) last released 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 period in the previous year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.
Insider Transactions at Oklo
In other Oklo news, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $76.97, for a total transaction of $397,088.23. Following the sale, the chief financial officer directly owned 196,913 shares in the company, valued at approximately $15,156,393.61. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Carroll Murphy Goodwin sold 5,864 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $88.42, for a total value of $518,494.88. Following the completion of the sale, the insider directly owned 13,620 shares in the company, valued at $1,204,280.40. This trade represents a 30.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,232,800 shares of company stock valued at $110,433,480 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Oklo
Large investors have recently added to or reduced their stakes in the business. Black Swift Group LLC acquired a new stake in shares of Oklo in the second quarter valued at approximately $280,000. Bouvel Investment Partners LLC acquired a new stake in Oklo during the 2nd quarter valued at $2,263,000. Prospera Financial Services Inc increased its position in Oklo by 10.0% during the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock worth $2,880,000 after buying an additional 4,678 shares in the last quarter. Strs Ohio acquired a new position in shares of Oklo in the second quarter worth $1,069,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in shares of Oklo in the second quarter valued at $738,000. 85.03% of the stock is owned by institutional investors and hedge funds.
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.