Oklo (NYSE:OKLO) Shares Down 3% - What's Next?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) fell 3% during trading on Thursday . The company traded as low as $20.80 and last traded at $22.03. 4,789,595 shares were traded during mid-day trading, a decline of 59% from the average session volume of 11,667,042 shares. The stock had previously closed at $22.70.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Craig Hallum assumed coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price target on the stock. Citigroup reduced their price target on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Wedbush reiterated an "outperform" rating and set a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Oklo currently has a consensus rating of "Moderate Buy" and an average target price of $44.25.

Oklo Price Performance

The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01. The firm has a 50-day moving average price of $34.83 and a two-hundred day moving average price of $25.30.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). On average, equities analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Remove Ads

Insider Buying and Selling

In related news, 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 cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the transaction, the director now owns 6,000 shares of the company's stock, valued at approximately $147,420. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the firm's stock in a transaction on 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 directly owns 10,852,926 shares of the company's stock, valued at $236,593,786.80. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the period. Van ECK Associates Corp bought a new stake in Oklo in the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC acquired a new stake in shares of Oklo in the fourth quarter valued at approximately $17,104,000. Finally, Geode Capital Management LLC bought a new position in shares of Oklo during the 3rd quarter worth approximately $5,971,000. Institutional investors and hedge funds 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.