Oklo (NYSE:OKLO) Trading Down 3.7% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares were down 3.7% on Wednesday . The stock traded as low as $21.60 and last traded at $22.14. Approximately 1,856,816 shares changed hands during trading, a decline of 89% from the average daily volume of 16,704,457 shares. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

Several analysts recently commented on OKLO shares. B. Riley boosted their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. BTIG Research started coverage on shares of Oklo in a research report on Friday, April 11th. They set a “neutral” rating on the stock. Finally, Citigroup cut their price objective 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Trading Up 2.0 %

The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -2.17 and a beta of -0.01. The company’s fifty day moving average is $30.04 and its two-hundred day moving average is $26.01.

Oklo (NYSE:OKLO) 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). Analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director John M. Jansen acquired 6,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now directly owns 10,852,926 shares in the company, valued at approximately $236,593,786.80. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the 4th quarter worth about $27,000. CoreCap Advisors LLC purchased a new stake in Oklo during the fourth quarter worth approximately $32,000. Sandy Spring Bank acquired a new position in Oklo in the fourth quarter valued at approximately $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Oklo in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.