Oklo (NYSE:OKLO) Trading Down 6.7% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price dropped 6.7% on Monday . The company traded as low as $20.45 and last traded at $20.52. Approximately 2,157,278 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 16,401,596 shares. The stock had previously closed at $21.98.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKLO. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a "buy" rating and a $44.00 target price on the stock. Wedbush restated an "outperform" rating and set a $45.00 price objective on shares of Oklo in a research report on Tuesday, March 25th. Citigroup cut their target price on shares of 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 increased their price target on Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, HC Wainwright started coverage on Oklo in a report on Wednesday. They issued a "buy" rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

Oklo Stock Down 2.4 %

The stock's fifty day simple moving average is $26.45 and its 200 day simple moving average is $26.53. The firm has a market capitalization of $3.30 billion, a PE ratio of -2.34 and a beta of -0.01.

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

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the transaction, the chief executive officer now owns 11,033,561 shares of the company's stock, valued at $277,494,059.15. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost 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 of the company's stock, valued at approximately $147,420. This 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 Investors Weigh In On Oklo

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