Oklo (NYSE:OKLO) Shares Down 12.8% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report) shares traded down 12.8% on Friday . The stock traded as low as $17.80 and last traded at $19.09. 7,933,545 shares were traded during trading, a decline of 32% from the average session volume of 11,680,325 shares. The stock had previously closed at $21.89.

Analysts Set New Price Targets

OKLO has been the subject of several recent research reports. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price for the company. Citigroup lowered their price objective on Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Wedbush restated an "outperform" rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Finally, B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.25.

Oklo Stock Performance

The company's 50 day moving average is $34.65 and its 200 day moving average is $25.40. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data 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, equities research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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Insiders Place Their Bets

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 transaction of $893,800.00. Following the completion of the transaction, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John M. Jansen acquired 6,000 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company's stock, valued at approximately $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 hedge funds and other institutional investors have recently modified their holdings of OKLO. Vanguard Group Inc. grew its position in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after acquiring an additional 2,090,154 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Oklo during the 4th quarter worth about $38,661,000. Atomi Financial Group Inc. bought a new position in Oklo during the 4th quarter valued at about $19,285,000. TimesSquare Capital Management LLC acquired a new position in Oklo in the fourth quarter valued at about $17,104,000. Finally, Geode Capital Management LLC acquired a new position in Oklo in the third quarter valued at about $5,971,000. 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.