Oklo (NYSE:OKLO) Shares Gap Down on Disappointing Earnings

Oklo Inc. (NYSE:OKLO)’s share price gapped down prior to trading 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 changing hands.

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

Analyst Ratings Changes

Several equities research analysts have commented on OKLO shares. Citigroup dropped their target price on Oklo from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday. Finally, Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Oklo by 5.7% during the 4th quarter. Barclays PLC now owns 7,666 shares of the company’s stock valued at $163,000 after buying an additional 416 shares during the period. Ancora Advisors LLC increased its position in Oklo by 18.2% during the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after acquiring an additional 710 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in Oklo in the fourth quarter valued at about $27,000. CoreCap Advisors LLC purchased a new position in Oklo in the fourth quarter worth about $32,000. Finally, Sandy Spring Bank purchased a new position in Oklo in the fourth quarter worth about $32,000. Institutional investors own 85.03% of the company’s stock.

Oklo Stock Performance

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.