Oklo (NYSE:OKLO) Stock Price Down 0.2% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price was down 0.2% during trading on Wednesday . The company traded as low as $21.80 and last traded at $22.48. Approximately 3,925,713 shares were traded during trading, a decline of 66% from the average daily volume of 11,667,556 shares. The stock had previously closed at $22.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OKLO shares. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Citigroup dropped their target price on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Performance

The company’s fifty day moving average price is $35.27 and its 200 day moving average price is $24.94. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -1.96 and a beta of -0.28.

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. bought a new position in Oklo in the 4th quarter worth approximately $27,000. CoreCap Advisors LLC acquired a new stake in Oklo in the fourth quarter worth $32,000. Sandy Spring Bank bought a new position in shares of Oklo during the fourth quarter worth $32,000. Covestor Ltd acquired a new position in shares of Oklo in the 4th quarter valued at $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter valued at $43,000. 85.03% of the stock is 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.