Oklo (NYSE:OKLO) Trading Down 4.5% - What's Next?

Oklo Inc. (NYSE:OKLO - Get Free Report) fell 4.5% during mid-day trading on Tuesday . The company traded as low as $37.12 and last traded at $37.94. 9,169,236 shares changed hands during trading, a decline of 23% from the average session volume of 11,935,991 shares. The stock had previously closed at $39.73.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OKLO shares. Craig Hallum assumed coverage on Oklo in a research report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target on the stock. Wedbush raised their target price on Oklo from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Citigroup restated a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Finally, BTIG Research initiated coverage on shares of Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Oklo presently has an average rating of "Moderate Buy" and a consensus target price of $48.40.

Oklo Stock Up 23.6%

The business's 50 day simple moving average is $26.83 and its 200 day simple moving average is $28.46. The company has a market capitalization of $6.84 billion, a PE ratio of -9.08 and a beta of -0.02.

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

Insider Activity

In other Oklo news, Co-Founder, CEO Jacob DeWitte 139,635 shares of the stock in a transaction that occurred on Friday, March 28th. Following the , the insider now directly owns 10,893,926 shares in the company, valued at approximately $249,253,026.88. This represents a 1.27% decrease in their ownership of the stock. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

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

About Oklo

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.