Oklo (NYSE:OKLO) Reaches New 12-Month Low – Should You Sell?
by Michael Walen · The Markets DailyOklo Inc. (NYSE:OKLO – Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $36.61 and last traded at $36.5840, with a volume of 16839102 shares. The stock had previously closed at $39.88.
More Oklo News
Here are the key news stories impacting Oklo this week:
- Positive Sentiment: New funding could support growth: Oklo launched a new at-the-market offering program capable of raising up to $1 billion. The proceeds could help fund reactor development, licensing, construction and other corporate needs as the company works toward commercializing its Aurora advanced-fission technology. Oklo shares slide after company launches new $1B stock offering
- Positive Sentiment: Analyst support remains: Piper Sandler initiated coverage with an Overweight rating and a $55 price target. Other analysts maintain substantially higher targets, reflecting optimism about Oklo’s potential role in supplying reliable, low-carbon power to data centers and other large customers. Piper Sandler Initiates a Buy Rating on Oklo
- Neutral Sentiment: Insider transactions: CEO Jacob DeWitte sold 120,000 shares for approximately $4.6 million but retained significant direct and indirect holdings. General Counsel Vivek Narayanadas also sold shares under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing the bearish significance of those sales. Oklo CEO Sells Shares
- Negative Sentiment: Dilution concerns are the primary overhang: Oklo fully used a previous $1 billion ATM program launched in May and is now seeking another $1 billion. The rapid use of the prior program highlights the company’s substantial cash needs and raises concern that additional share issuance will dilute current investors. Oklo Stock Dips After $1 Billion Stock Offering
- Negative Sentiment: Commercialization risk remains high: Oklo has not deployed a commercial reactor, remains unprofitable and recently reported a wider-than-expected quarterly loss. Investors are therefore weighing the long-term AI and nuclear-power opportunity against financing, licensing, construction and execution risks.
- Negative Sentiment: Sector weakness added pressure: Advanced-nuclear stocks declined broadly after mixed analyst calls, causing Oklo to fall alongside peers even though Piper Sandler rated the company favorably. Nuclear Stocks Slide After Piper Sandler Ratings
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Guggenheim began coverage on shares of Oklo in a research report on Thursday, June 25th. They set a “neutral” rating on the stock. Citigroup lowered their price objective on Oklo from $76.00 to $57.50 and set a “neutral” rating for the company in a research report on Monday, August 10th. Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Oklo in a research report on Tuesday, May 26th. Truist Financial decreased their price target on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and a consensus target price of $83.26.
View Our Latest Stock Report on Oklo
Oklo Price Performance
The stock has a 50-day simple moving average of $43.29 and a 200-day simple moving average of $54.72. The stock has a market cap of $6.76 billion, a PE ratio of -38.68 and a beta of 1.18.
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 the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. During the same quarter last year, the firm earned ($0.18) EPS. The company’s quarterly revenue was up 11900.0% on a year-over-year basis. As a group, equities research analysts anticipate that Oklo Inc. will post -0.91 EPS for the current year.
Insider Activity at Oklo
In other news, insider William Carroll Murphy Goodwin sold 11,592 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.77, for a total value of $461,013.84. Following the completion of the sale, the insider owned 45,268 shares of the company’s stock, valued at $1,800,308.36. This represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexandra Renner sold 1,930 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $38.40, for a total value of $74,112.00. Following the completion of the sale, the insider owned 475,022 shares of the company’s stock, valued at approximately $18,240,844.80. This trade represents a 0.40% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 355,676 shares of company stock valued at $16,618,122 over the last 90 days. Corporate insiders own 12.70% of the company’s stock.
Institutional Trading of Oklo
Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its position 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 worth $454,377,000 after purchasing an additional 8,551,720 shares in the last quarter. Van ECK Associates Corp increased its stake in Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after buying an additional 481,288 shares during the period. State Street Corp increased its stake in Oklo by 23.6% during the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after buying an additional 584,184 shares during the period. 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Oklo by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock worth $83,262,000 after buying an additional 90,213 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.
Oklo Company Profile
Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.
Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.