Oklo (NYSE:OKLO) Shares Down 3.8% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 3.8% on Tuesday . The company traded as low as $52.40 and last traded at $52.20. 7,229,966 shares changed hands during trading, a decline of 45% from the average session volume of 13,153,763 shares. The stock had previously closed at $54.26.

Analyst Ratings Changes

A number of research analysts have commented on OKLO shares. HC Wainwright began coverage on Oklo in a research note on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective on the stock. Citigroup restated a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and lifted their target price for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Wedbush raised their price objective on Oklo from $55.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Oklo has an average rating of "Moderate Buy" and an average target price of $56.00.

Oklo Stock Performance

The business's 50 day moving average price is $34.95 and its 200-day moving average price is $31.44. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -11.77 and a beta of 0.58.

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

Insiders Place Their Bets

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 completion of the transaction, the chief executive officer now owns 11,033,561 shares in the company, valued at $277,494,059.15. The trade was a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at $147,420. The trade was 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 Trading of Oklo

Large investors have recently modified their holdings of the company. Rhumbline Advisers acquired a new position in Oklo during the 1st quarter valued at about $65,000. Intrua Financial LLC boosted its position in shares of Oklo by 4.2% during the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after buying an additional 535 shares during the period. Geneos Wealth Management Inc. grew its holdings in Oklo by 24.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock worth $800,000 after buying an additional 7,352 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Oklo during the 1st quarter worth $54,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Oklo by 90.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company's stock worth $2,439,000 after purchasing an additional 53,703 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

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.