Oklo (NYSE:OKLO) Shares Down 1.7% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price dropped 1.7% on Thursday . The company traded as low as $21.11 and last traded at $21.19. Approximately 1,792,231 shares changed hands during trading, a decline of 85% from the average daily volume of 11,683,335 shares. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

OKLO has been the subject of a number of recent research reports. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. BTIG Research initiated coverage on Oklo in a research note on Friday, April 11th. They set a “neutral” rating for the company. Citigroup lowered their price objective on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. B. Riley boosted their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday, March 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Price Performance

The business has a 50 day moving average price of $29.48 and a 200 day moving average price of $26.10. The firm has a market capitalization of $3.06 billion, a P/E ratio of -2.17 and a beta of -0.01.

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). As a group, equities analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new position in Oklo during the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in Oklo in the fourth quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC acquired a new stake in Oklo in the fourth quarter worth $17,104,000. Finally, Geode Capital Management LLC acquired a new position in shares of Oklo in the 3rd quarter valued at $5,971,000. 85.03% of the stock is currently owned by institutional investors.

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.