Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Oklo Inc. (NYSE:OKLO) gapped down prior to trading on Monday . The stock had previously closed at $37.72, but opened at $35.53. Oklo shares last traded at $38.61, with a volume of 5,176,025 shares changing hands.

Analysts Set New Price Targets

OKLO has been the subject of a number of recent research reports. B. Riley increased their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. BTIG Research initiated coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating for the company. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup restated a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, Wedbush set a $45.00 price target on shares of Oklo and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.40.

Oklo Stock Up 1.3%

The business’s 50-day moving average price is $25.42 and its 200 day moving average price is $27.89. The company has a market capitalization of $5.32 billion, a P/E ratio of -7.11 and a beta of -0.02.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, Director John M. Jansen acquired 6,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost 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. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction 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 $277,494,059.15. The trade was a 0.32% decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. purchased a new stake in Oklo during the 4th quarter valued at about $27,000. Sandy Spring Bank bought a new position in Oklo during the 4th quarter valued at about $32,000. CoreCap Advisors LLC bought a new position in Oklo during the 4th quarter valued at about $32,000. Covestor Ltd bought a new position in Oklo during the 4th quarter valued at about $34,000. Finally, KBC Group NV purchased a new stake in Oklo during the first quarter valued at approximately $36,000. Hedge funds and other 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.