Oklo (NYSE:OKLO) Stock Price Down 1.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 1.7% on Thursday . The company traded as low as $21.11 and last traded at $21.19. Approximately 1,792,231 shares were traded during trading, a decline of 85% from the average daily volume of 11,683,335 shares. The stock had previously closed at $21.56.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OKLO. Wedbush reissued an “outperform” rating and set a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. BTIG Research initiated coverage on Oklo in a research note on Friday, April 11th. They set a “neutral” rating for the company. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup lowered their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Finally, B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Price Performance

The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01. The business has a fifty day moving average of $29.48 and a 200-day moving average of $26.10.

Oklo (NYSE:OKLO) last released 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). As a group, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Transactions at Oklo

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

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter valued at approximately $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the fourth quarter worth $32,000. CoreCap Advisors LLC acquired a new stake in Oklo during the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in Oklo in the fourth quarter valued at about $34,000. Finally, Anfield Capital Management LLC acquired a new position in Oklo in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

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.