Oklo (NYSE:OKLO) Trading Down 3% – Here’s What Happened

Oklo Inc. (NYSE:OKLO)’s share price fell 3% on Thursday . The company traded as low as $20.80 and last traded at $22.03. 4,789,595 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 11,667,042 shares. The stock had previously closed at $22.70.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Craig Hallum assumed 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. B. Riley boosted their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Citigroup cut their target price on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Price Performance

The stock has a market cap of $3.07 billion, a P/E ratio of -2.18 and a beta of -0.28. The firm’s fifty day moving average price is $35.61 and its two-hundred day moving average price is $24.96.

Oklo (NYSE:OKLO) last announced its earnings results 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, research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In other news, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction dated 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 directly owns 10,852,926 shares in the company, valued at approximately $236,593,786.80. This represents a 0.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Jansen bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares in the company, 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 currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Oklo during the fourth quarter valued at about $38,661,000. Atomi Financial Group Inc. bought a new position in shares of Oklo during the fourth quarter valued at about $19,285,000. TimesSquare Capital Management LLC purchased a new position in shares of Oklo in the fourth quarter worth about $17,104,000. Finally, Readystate Asset Management LP bought a new stake in shares of Oklo in the 3rd quarter valued at about $6,193,000. 85.03% of the stock is owned by hedge funds and other 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.