Oklo (NYSE:OKLO) Shares Down 1.2% - What's Next?

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 1.2% during trading on Thursday . The company traded as low as $62.88 and last traded at $67.20. 14,958,177 shares traded hands during trading, an increase of 11% from the average session volume of 13,450,536 shares. The stock had previously closed at $68.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OKLO shares. Wedbush raised their price objective on Oklo from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday. William Blair initiated coverage on shares of Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price objective for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Citigroup reissued a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Finally, HC Wainwright initiated coverage on Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Oklo Trading Down 0.5%

The firm has a market cap of $8.93 billion, a PE ratio of -11.91 and a beta of 0.58. The company's 50-day moving average is $34.95 and its 200 day moving average is $31.44.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results 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. On average, research analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the transaction, the chief executive officer now directly owns 11,033,561 shares of the company's stock, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price of $24.57 per share, with a total value of $147,420.00. Following the acquisition, the director now owns 6,000 shares of the company's stock, 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. Corporate insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after buying an additional 2,090,154 shares during the period. Raymond James Financial Inc. bought a new position in shares of Oklo in the 4th quarter worth $2,209,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company's stock valued at $198,000 after buying an additional 8,950 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Oklo during the 4th quarter valued at about $1,693,000. Finally, Sanctuary Advisors LLC boosted its holdings in Oklo by 115.9% during the 4th quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company's stock worth $565,000 after acquiring an additional 14,272 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.