Oklo (NYSE:OKLO) Trading Down 2.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s stock price traded down 2.7% during trading on Friday . The company traded as low as $23.15 and last traded at $23.18. 3,162,313 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 11,646,528 shares. The stock had previously closed at $23.82.

Wall Street Analysts Forecast Growth

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

Oklo Price Performance

The company has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $24.62. 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 data 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, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. HITE Hedge Asset Management LLC bought a new position in Oklo in the 3rd quarter worth about $19,753,000. Vanguard Group Inc. grew its stake in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Van ECK Associates Corp purchased a new position in Oklo during the 4th quarter worth $38,661,000. Atomi Financial Group Inc. purchased a new position in Oklo during the 4th quarter worth $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in Oklo during the 4th quarter valued at $17,104,000. Institutional investors own 85.03% of the company’s stock.

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.