Oklo (NYSE:OKLO) Trading Down 3.4% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price fell 3.4% during mid-day trading on Thursday . The stock traded as low as $22.33 and last traded at $23.26. 3,299,740 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 11,768,481 shares. The stock had previously closed at $24.08.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKLO shares. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. BTIG Research started coverage on shares of Oklo in a research note on Friday. They issued a “neutral” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday, March 25th. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Citigroup decreased their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Price Performance

The stock’s fifty day moving average price is $32.41 and its 200 day moving average price is $25.75. The stock has a market capitalization of $3.13 billion, a P/E ratio of -2.22 and a beta of -0.01.

Oklo (NYSE:OKLO) last issued its earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). On average, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now directly owns 10,852,926 shares of the company’s stock, valued at $236,593,786.80. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the fourth quarter worth $27,000. CoreCap Advisors LLC purchased a new stake in Oklo in the fourth quarter valued at about $32,000. Sandy Spring Bank acquired a new stake in Oklo in the fourth quarter worth about $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC purchased a new position in shares of Oklo in the 4th quarter valued at approximately $43,000. Institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.