Oklo Stock Drops After $1.5 Billion Offering: Details – Oklo (NYSE:OKLO)

Oklo, Inc. (NYSE:OKLO) stock dropped in Thursday’s extended trading after the company entered into an equity distribution agreement to offer up to $1.5 billion of common stock.

The Details

According to an SEC filing, Oklo may offer up to $1.5 billion in Class A common stock in an at the market transaction.

Read Next: Nvidia CEO Says Nuclear Is AI’s Future — Oklo, NuScale Ready To Roar Back?

Oklo shares fell in after-hours trading as investors digested the news. The stock climbed more than 15% in Thursday’s regular session after Nvidia CEO Jensen Huang said nuclear power, particularly small modular reactors, were the key to the future of powering AI data centers.

OKLO Stock Price: According to data from Benzinga Pro, Oklo stock fell 7.26% to $103.54 in Thursday’s extended trading.  

Will OKLO Stock Go Up?

When trying to assess whether or not Oklo will trade higher from current levels, it’s a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $132.22 on Oklo. The “Street high” target is currently at $175 and the “Street low” target is $95. Of all the analysts covering Oklo, five have positive ratings, four have neutral ratings and no one has negative ratings.

In the past month, four analysts have adjusted price targets. Here’s a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street’s most accurate analysts. Check out how analysts covering Oklo have performed in recent history.

Stocks don’t move in a straight line. The average stock market return is approximately 10% per year. Oklo is up 410.98% year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Oklo, visit here. If you want to go above and beyond, there’s no better tool to help you do just that than Benzinga Pro. Start your free trial today.

Read Next: 

Photo: Shutterstock