Oklo (NYSE:OKLO) Trading Down 3.3% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) traded down 3.3% during mid-day trading on Thursday . The company traded as low as $25.20 and last traded at $25.49. 3,576,347 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 17,763,037 shares. The stock had previously closed at $26.37.

Analysts Set New Price Targets

A number of research firms recently commented on OKLO. B. Riley increased their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research note on Tuesday. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, Citigroup dropped 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. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Oklo Trading Down 8.7 %

The firm’s 50 day moving average is $36.18 and its two-hundred day moving average is $24.38. The firm has a market cap of $2.94 billion, a P/E ratio of -2.38 and a beta of -0.28.

Oklo (NYSE:OKLO) last announced its quarterly earnings data 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 fiscal year.

Hedge Funds Weigh In On Oklo

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

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.