Oklo (NYSE:OKLO) Stock Price Down 3.7% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares dropped 3.7% on Wednesday . The company traded as low as $21.60 and last traded at $22.14. Approximately 1,856,816 shares were traded 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 Ratings Changes

A number of research firms have commented on OKLO. B. Riley increased their price objective on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Citigroup cut their price target on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. BTIG Research assumed coverage on Oklo in a report on Friday, April 11th. They set a “neutral” rating on the stock. Finally, Craig Hallum began 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Stock Down 6.8 %

The company has a market cap of $2.98 billion, a price-to-earnings ratio of -2.12 and a beta of -0.01. The stock’s 50-day simple moving average is $31.35 and its 200 day simple moving average is $25.94.

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

Insider Activity at Oklo

In other Oklo news, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the completion of the transaction, the chief executive officer now 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 SEC, which is available at the SEC website. Also, Director John M. Jansen acquired 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $147,420. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new position in Oklo in the first quarter worth approximately $104,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Oklo in the 1st quarter valued at $216,000. Park Avenue Securities LLC acquired a new stake in shares of Oklo during the first quarter worth about $374,000. StoneCrest Wealth Management Inc. acquired a new position in Oklo during the first quarter worth approximately $347,000. Finally, MRA Advisory Group purchased a new stake in Oklo in the 1st quarter valued at $206,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.