Oklo (NYSE:OKLO) Stock Price Down 2.7% – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OKLO shares. B. Riley raised their price objective on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wedbush reissued an “outperform” rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday. Craig Hallum initiated coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Citigroup decreased their target price 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Oklo Stock Down 6.0 %

The business has a fifty day moving average of $36.17 and a 200 day moving average of $24.37. The company has a market cap of $2.73 billion, a P/E ratio of -2.23 and a beta of -0.28.

Oklo (NYSE:OKLO) last issued 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). On average, sell-side analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC bought a new position in shares of Oklo in the 3rd quarter worth approximately $19,753,000. Vanguard Group Inc. raised its holdings 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 bought a new position in Oklo in the fourth quarter worth $38,661,000. Atomi Financial Group Inc. purchased a new position in Oklo during the fourth quarter valued at $19,285,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Oklo during the 4th quarter valued at $17,104,000. 85.03% of the stock is currently 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.