Oklo (NYSE:OKLO) Stock Price Down 3.3% – Should You Sell?

Oklo Inc. (NYSE:OKLO) was down 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 traded hands during 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 analysts have recently commented on OKLO shares. Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a report on Tuesday. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. B. Riley increased their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Citigroup cut their price target on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Oklo Stock Down 8.7 %

The company has a 50 day simple moving average of $36.18 and a 200 day simple moving average of $24.38. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -2.38 and a beta of -0.28.

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

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently bought and sold shares of the business. Portland Investment Counsel Inc. bought a new stake in Oklo in the 3rd quarter valued at about $6,493,000. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo in the 3rd quarter worth $19,753,000. Atomi Financial Group Inc. acquired a new position in Oklo during the fourth quarter worth about $19,285,000. Archford Capital Strategies LLC acquired a new stake in Oklo during the fourth quarter valued at approximately $212,000. Finally, Barclays PLC acquired a new stake in shares of Oklo during the 3rd quarter valued at $58,000. Institutional investors and hedge funds 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.