Oklo (NYSE:OKLO) Stock Price Down 4.1% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price fell 4.1% during trading on Friday . The stock traded as low as $21.65 and last traded at $21.80. 3,252,235 shares changed hands during trading, a decline of 72% from the average session volume of 11,763,774 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented 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. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wedbush reissued an "outperform" rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. BTIG Research started coverage on shares of Oklo in a research note on Friday. They issued a "neutral" rating on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.25.

Oklo Trading Up 1.9 %

The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -2.27 and a beta of -0.01. The firm has a fifty day simple moving average of $31.84 and a 200-day simple moving average of $25.96.

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 analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In other news, Director John M. Jansen bought 6,000 shares of the business'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 owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the business'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 trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds have recently modified their holdings of OKLO. TD Waterhouse Canada Inc. bought a new stake in Oklo in the 4th quarter valued at $27,000. CoreCap Advisors LLC acquired a new position in shares of Oklo during the fourth quarter worth about $32,000. Sandy Spring Bank acquired a new stake in Oklo in the 4th quarter valued at approximately $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the fourth quarter worth $43,000. Institutional investors and hedge funds 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.