Oklo (NYSE:OKLO) Trading Down 0.2% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $21.80 and last traded at $22.48. 3,925,713 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 11,667,556 shares. The stock had previously closed at $22.53.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Craig Hallum initiated coverage on shares of Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup decreased their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. 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. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Price Performance

The firm has a market cap of $3.21 billion, a PE ratio of -2.28 and a beta of -0.28. The company’s 50 day moving average price is $35.83 and its 200 day moving average price is $24.97.

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

Insider Activity

In other news, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction dated 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 acquisition, the director now owns 6,000 shares of the company’s stock, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 35,365 shares of Oklo stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the sale, the chief executive officer now directly owns 11,033,561 shares of the company’s stock, valued at approximately $277,494,059.15. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Oklo by 1.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company’s stock worth $104,646,000 after acquiring an additional 74,315 shares in the last quarter. Vanguard Group Inc. lifted its stake in Oklo by 92.8% during the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in Oklo in the third quarter valued at approximately $19,753,000. Van ECK Associates Corp purchased a new position in Oklo in the fourth quarter valued at approximately $38,661,000. Finally, Atomi Financial Group Inc. acquired a new stake in Oklo during the fourth quarter worth approximately $19,285,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.