Oklo (NYSE:OKLO) Shares Down 1.6% - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 1.6% during mid-day trading on Friday . The stock traded as low as $23.18 and last traded at $23.94. Approximately 2,642,794 shares were traded during trading, a decline of 77% from the average daily volume of 11,643,154 shares. The stock had previously closed at $24.32.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. BTIG Research began coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush reaffirmed an "outperform" rating and set a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. Citigroup lowered their price objective on Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, HC Wainwright initiated coverage on Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.40.

Oklo Price Performance

The business has a 50 day simple moving average of $26.04 and a 200 day simple moving average of $26.88. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -2.41 and a beta of -0.01.

Oklo (NYSE:OKLO - Get Free Report) last posted its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity

In related news, Director John M. Jansen purchased 6,000 shares of the business's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at $277,494,059.15. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the fourth quarter worth $27,000. CoreCap Advisors LLC purchased a new stake in Oklo during the 4th quarter worth about $32,000. Sandy Spring Bank acquired a new position in shares of Oklo during the 4th quarter worth about $32,000. Covestor Ltd purchased a new position in shares of Oklo in the 4th quarter valued at about $34,000. Finally, KBC Group NV acquired a new stake in shares of Oklo during the 1st quarter worth about $36,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.