Oklo (NYSE:OKLO) Trading Down 4.4% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded down 4.4% on Thursday . The stock traded as low as $52.21 and last traded at $52.84. 9,698,913 shares changed hands during trading, a decline of 23% from the average session volume of 12,664,214 shares. The stock had previously closed at $55.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair assumed coverage on Oklo in a report on Wednesday. They set an "outperform" rating on the stock. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and lifted their price objective for the company from $50.00 to $74.00 in a report on Tuesday. Wedbush lifted their price objective on Oklo from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. BTIG Research assumed coverage on Oklo in a report on Friday, April 11th. They set a "neutral" rating on the stock. Finally, Citigroup reiterated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.67.

Oklo Trading Down 0.3%

The stock has a market cap of $7.35 billion, a P/E ratio of -9.76 and a beta of -0.02. The company has a 50 day simple moving average of $29.25 and a 200 day simple moving average of $29.46.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. As a group, sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the firm's stock in a transaction dated Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares of the company's stock, valued at $249,253,026.88. This trade represents a 1.27% decrease in their position. The was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the 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 transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OKLO. Vanguard Group Inc. increased its position in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Oklo during the 4th quarter worth approximately $38,661,000. TimesSquare Capital Management LLC acquired a new position in shares of Oklo during the 4th quarter worth approximately $17,104,000. JAT Capital Mgmt LP bought a new stake in Oklo in the 4th quarter valued at $14,798,000. Finally, Millennium Management LLC raised its stake in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after acquiring an additional 570,532 shares during the period. 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.