Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) dropped 2.4% on Wednesday . The stock traded as low as $51.52 and last traded at $52.25. Approximately 5,376,375 shares changed hands during trading, a decline of 63% from the average daily volume of 14,528,678 shares. The stock had previously closed at $53.52.
Wall Street Analysts Forecast Growth
OKLO has been the subject of several recent research reports. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research report on Monday, June 23rd. HC Wainwright initiated coverage on Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective for the company. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Citigroup reissued a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, BTIG Research began coverage on Oklo in a research report on Friday, April 11th. They set a "neutral" rating for the company. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.50.
Check Out Our Latest Analysis on OKLO
Oklo Stock Up 0.8%
The stock has a 50 day moving average price of $47.46 and a two-hundred day moving average price of $36.14. The company has a market cap of $7.53 billion, a P/E ratio of -9.98 and a beta of 0.57.
Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Equities analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.
Insider Buying and Selling at Oklo
In related news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the sale, the director owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. Corporate insiders own 18.90% of the company's stock.
Institutional Investors Weigh In On Oklo
Hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in Oklo during the 4th quarter worth about $27,000. Sandy Spring Bank acquired a new position in Oklo during the 4th quarter worth about $32,000. CoreCap Advisors LLC acquired a new position in Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter worth about $34,000. Finally, KBC Group NV acquired a new position in Oklo during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 85.03% of the company's stock.
Oklo Company Profile
(
Get Free Report)
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.
Further Reading
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