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

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $68.03, but opened at $63.61. Oklo shares last traded at $66.37, with a volume of 7,027,437 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OKLO. BTIG Research began coverage on Oklo in a research note on Friday, April 11th. They issued a "neutral" rating on the stock. HC Wainwright assumed coverage on Oklo in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Wedbush boosted their price objective on shares of Oklo from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday. Citigroup reiterated a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price target for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $56.00.

Oklo Stock Performance

The business's 50 day moving average price is $35.82 and its 200-day moving average price is $31.87. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -11.77 and a beta of 0.58.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of Oklo 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company's stock, valued at approximately $147,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 18.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo during the fourth quarter worth $27,000. Sandy Spring Bank bought a new stake in Oklo during the 4th quarter worth about $32,000. CoreCap Advisors LLC bought a new stake in Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new stake in Oklo in the 4th quarter valued at about $34,000. Finally, KBC Group NV bought a new position in shares of Oklo in the first quarter worth about $36,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.