Oklo (NYSE:OKLO) Shares Gap Down Following Weak Earnings

Oklo Inc. (NYSE:OKLO) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $30.91, but opened at $28.88. Oklo shares last traded at $28.85, with a volume of 5,504,129 shares trading hands.

The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup reduced their price target on Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. Wedbush reissued an “outperform” rating and issued a $45.00 target price on shares of Oklo in a report on Tuesday. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Finally, B. Riley upped their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC grew its position in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after purchasing an additional 416 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock worth $98,000 after buying an additional 710 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo in the fourth quarter worth about $27,000. CoreCap Advisors LLC bought a new position in Oklo during the fourth quarter valued at approximately $32,000. Finally, Sandy Spring Bank purchased a new position in Oklo during the 4th quarter valued at approximately $32,000. Institutional investors own 85.03% of the company’s stock.

Oklo Stock Down 8.7 %

The stock has a 50 day simple moving average of $36.18 and a 200-day simple moving average of $24.38.

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.