Oklo (NYSE:OKLO) Stock Price Down 6.7% on Analyst Downgrade

Oklo Inc. (NYSE:OKLO) traded down 6.7% during trading on Wednesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. Citigroup currently has a neutral rating on the stock. Oklo traded as low as $26.63 and last traded at $26.98. 6,056,208 shares were traded during mid-day trading, a decline of 48% from the average session volume of 11,626,747 shares. The stock had previously closed at $28.93.

A number of other equities research analysts have also issued reports on OKLO. Craig Hallum initiated coverage on Oklo in a research report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. B. Riley boosted their price target on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Oklo in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Institutional Trading of Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Barclays PLC lifted its holdings in shares of Oklo by 5.7% in the 4th quarter. Barclays PLC now owns 7,666 shares of the company’s stock worth $163,000 after acquiring an additional 416 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after purchasing an additional 710 shares during the period. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo in the fourth quarter valued at approximately $27,000. CoreCap Advisors LLC purchased a new stake in Oklo during the 4th quarter worth approximately $32,000. Finally, Sandy Spring Bank purchased a new position in Oklo in the 4th quarter valued at approximately $32,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Price Performance

The company’s 50 day simple moving average is $36.17 and its 200 day simple moving average is $24.37. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -2.35 and a beta of -0.28.

Oklo (NYSE:OKLO) last released its earnings results 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, analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

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.