Oklo (NYSE:OKLO) Trading Down 6.7% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) dropped 6.7% during mid-day trading on Monday . The company traded as low as $20.45 and last traded at $20.52. Approximately 2,157,278 shares traded hands during trading, a decline of 87% from the average daily volume of 16,401,596 shares. The stock had previously closed at $21.98.

Analyst Ratings Changes

A number of brokerages recently commented on OKLO. BTIG Research assumed coverage on Oklo in a research report on Friday, April 11th. They issued a “neutral” rating for the company. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. 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, March 25th. B. Riley raised their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wedbush restated an “outperform” rating and issued a $45.00 target price 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Stock Performance

The company’s 50 day moving average price is $29.48 and its 200-day moving average price is $26.33. The stock has a market cap of $2.80 billion, a P/E ratio of -1.99 and a beta of -0.01.

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

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the transaction, the chief executive officer now directly owns 11,033,561 shares in the company, valued at $277,494,059.15. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Jansen bought 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The shares were bought 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 directly owns 6,000 shares in the company, valued at approximately $147,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. purchased a new stake in Oklo in the 4th quarter worth about $27,000. Sandy Spring Bank bought a new stake in shares of Oklo in the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the 4th quarter valued at approximately $32,000. Covestor Ltd bought a new position in Oklo in the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo in the 4th quarter valued at approximately $43,000. 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.