Oklo (NYSE:OKLO) Trading Down 1.6% - What's Next?

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 1.6% during trading on Friday . The stock traded as low as $60.60 and last traded at $63.42. 16,466,840 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 13,585,729 shares. The stock had previously closed at $64.48.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. William Blair assumed coverage on Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price target for the company 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. 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. Finally, Wedbush boosted their price target on Oklo from $55.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday. Two equities 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Oklo Trading Down 1.2%

The firm has a market capitalization of $8.87 billion, a PE ratio of -11.77 and a beta of 0.58. The business has a 50-day moving average of $35.82 and a 200 day moving average of $31.73.

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

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 35,365 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $25.15, for a total value of $889,429.75. Following the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the company's stock in a transaction on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company's stock, valued at approximately $147,420. The trade was 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 Inflows and Outflows

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