Oklo (NYSE:OKLO) Trading Down 3.3% – Should You Sell?

Oklo Inc. (NYSE:OKLO) shares were down 3.3% on Thursday . The stock traded as low as $25.20 and last traded at $25.49. Approximately 3,576,347 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 17,763,037 shares. The stock had previously closed at $26.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. B. Riley increased their price objective 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. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Oklo in a research report on Tuesday. Finally, Citigroup reduced their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.25.

Oklo Trading Down 5.9 %

The stock has a market capitalization of $2.74 billion, a P/E ratio of -2.21 and a beta of -0.28. The business has a fifty day simple moving average of $36.10 and a 200 day simple moving average of $24.49.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Institutional Investors Weigh In On Oklo

Institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new position in shares of Oklo in the third quarter valued at approximately $19,753,000. Vanguard Group Inc. grew its stake in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Oklo during the 4th quarter valued at $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo during the 4th quarter worth $19,285,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Oklo in the 4th quarter worth about $17,104,000. 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.