Oklo (NYSE:OKLO) Shares Gap Down - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.93, but opened at $49.41. Oklo shares last traded at $51.75, with a volume of 6,096,358 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. William Blair assumed coverage on Oklo in a research report on Wednesday. They issued an "outperform" rating for the company. BTIG Research assumed coverage on Oklo in a research report on Friday, April 11th. They issued a "neutral" rating for the company. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and upped their price target for the stock from $50.00 to $74.00 in a research note on Tuesday. B. Riley upped their price target on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Wedbush upped their price target on Oklo from $45.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Oklo has an average rating of "Moderate Buy" and an average price target of $52.67.

Oklo Stock Performance

The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -9.76 and a beta of -0.02. The company has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $29.46.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. As a group, analysts expect that Oklo Inc. will post -8.2 EPS 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 on Friday, March 28th. Following the completion of the , the insider now owns 10,893,926 shares of the company's stock, valued at approximately $249,253,026.88. This represents a 1.27% decrease in their position. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Jansen bought 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, with a total value of $147,420.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Oklo by 5.7% during the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares during the period. Signaturefd LLC increased its stake in Oklo by 5.4% in the first quarter. Signaturefd LLC now owns 8,962 shares of the company's stock valued at $194,000 after acquiring an additional 462 shares during the period. Spire Wealth Management increased its stake in Oklo by 14.1% in the first quarter. Spire Wealth Management now owns 3,896 shares of the company's stock valued at $84,000 after acquiring an additional 481 shares during the period. Intrua Financial LLC increased its stake in Oklo by 4.2% in the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock valued at $289,000 after acquiring an additional 535 shares during the period. Finally, Ancora Advisors LLC increased its stake in Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock valued at $98,000 after acquiring an additional 710 shares during the period. 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.