Oklo (NYSE:OKLO) Stock Price Down 6.7% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) dropped 6.7% on Monday . The company traded as low as $20.45 and last traded at $20.52. 2,157,278 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 16,401,596 shares. The stock had previously closed at $21.98.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Craig Hallum started coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research report on Tuesday, March 25th. Citigroup dropped their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. BTIG Research initiated coverage on shares of Oklo in a report on Friday, April 11th. They set a “neutral” rating on the stock. Finally, B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three research 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.com, Oklo has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Oklo Stock Down 8.5 %

The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -1.99 and a beta of -0.01. The stock has a 50 day moving average price of $29.48 and a 200 day moving average price of $26.33.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Sell-side analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 35,365 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the sale, the chief executive officer now directly owns 11,033,561 shares of the company’s stock, valued at approximately $277,494,059.15. This represents a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John M. Jansen bought 6,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by insiders.

Institutional Trading of Oklo

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo during the 4th quarter valued at about $27,000. Sandy Spring Bank acquired a new position in Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC bought a new position in shares of Oklo during the 4th quarter worth approximately $32,000. Covestor Ltd acquired a new stake in shares of Oklo during the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.