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

Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Monday . The stock had previously closed at $37.72, but opened at $35.53. Oklo shares last traded at $38.61, with a volume of 5,176,025 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BTIG Research assumed coverage on Oklo in a research note on Friday, April 11th. They set a “neutral” rating for the company. Craig Hallum assumed coverage on Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 target price for the company. Wedbush set a $45.00 price target on Oklo and gave the stock an “outperform” rating in a report on Wednesday, May 14th. Citigroup reiterated a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. Finally, HC Wainwright assumed coverage on Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.40.

Oklo Trading Down 5.7%

The company has a market capitalization of $5.21 billion, a P/E ratio of -6.92 and a beta of -0.02. The company’s 50 day moving average is $25.96 and its 200-day moving average is $28.08.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In related news, Director John M. Jansen bought 6,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $24.57 per share, with a total value of $147,420.00. Following the completion of the purchase, the director now owns 6,000 shares of the company’s stock, valued at $147,420. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the transaction, the chief executive officer now owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several large investors have recently bought and sold shares of OKLO. TD Waterhouse Canada Inc. acquired a new stake in Oklo during the 4th quarter valued at approximately $27,000. Sandy Spring Bank purchased a new stake in Oklo in the 4th quarter worth $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the fourth quarter worth $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the fourth quarter worth $34,000. Finally, KBC Group NV purchased a new stake in shares of Oklo in the first quarter valued at about $36,000. Hedge funds and other 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.