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

Oklo Inc. (NYSE:OKLO)’s share price dropped 3.3% during trading on Thursday . The stock traded as low as $25.20 and last traded at $25.49. Approximately 3,576,347 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 17,763,037 shares. The stock had previously closed at $26.37.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKLO. B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $45.00 target price on shares of Oklo in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.25.

Oklo Trading Down 5.9 %

The business has a fifty day moving average of $36.10 and a 200-day moving average of $24.49. The firm has a market cap of $2.74 billion, a PE ratio of -2.21 and a beta of -0.28.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OKLO. Triton Wealth Management PLLC purchased a new stake in shares of Oklo in the fourth quarter worth $559,000. Windmill Hill Asset Management Ltd purchased a new stake in shares of Oklo in the 4th quarter valued at about $1,476,000. Polar Asset Management Partners Inc. bought a new stake in shares of Oklo during the 4th quarter valued at about $781,000. Alpine Global Management LLC purchased a new position in shares of Oklo during the fourth quarter worth about $427,000. Finally, Value Aligned Research Advisors LLC bought a new position in shares of Oklo in the fourth quarter worth approximately $1,209,000. 85.03% of the stock is owned by institutional investors.

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.