Oklo (NYSE:OKLO) Stock Gets Price Target Reduction from B. Riley Financial

Oklo (NYSE:OKLO) had its target price reduced by B. Riley Financial from $92.00 to $61.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

OKLO has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Oklo in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Canaccord Genuity Group decreased their target price on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. TD Cowen started coverage on Oklo in a research note on Monday. They set a “hold” rating and a $26.00 price target for the company. Finally, Barclays cut their price target on Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.83.

Oklo Stock Performance

Oklo stock opened at $25.18 on Wednesday. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -26.79 and a beta of 1.20. The stock’s 50 day simple moving average is $35.53 and its two-hundred day simple moving average is $54.14. Oklo has a fifty-two week low of $24.49 and a fifty-two week high of $141.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. During the same period in the prior year, the business earned ($0.18) earnings per share. The firm’s quarterly revenue was up 11900.0% compared to the same quarter last year. On average, analysts predict that Oklo will post -1.01 earnings per share for the current year.

Insider Activity

In other Oklo news, CEO Jacob DeWitte sold 80,000 shares of Oklo stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $38.69, for a total transaction of $3,095,200.00. Following the transaction, the chief executive officer directly owned 398,039 shares of the company’s stock, valued at $15,400,128.91. The trade was a 16.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Vivek Narayanadas sold 3,264 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $129,809.28. Following the completion of the transaction, the general counsel directly owned 7,822 shares in the company, valued at approximately $311,080.94. This trade represents a 29.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 291,374 shares of company stock valued at $10,955,825 in the last 90 days. 12.70% of the stock is owned by insiders.

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in OKLO. Bank of America Corp DE lifted its stake in Oklo by 55.3% in the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock valued at $30,760,000 after buying an additional 220,976 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Oklo by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company’s stock worth $25,632,000 after acquiring an additional 5,945 shares during the last quarter. Swiss National Bank lifted its position in shares of Oklo by 7.1% in the first quarter. Swiss National Bank now owns 324,900 shares of the company’s stock valued at $16,112,000 after acquiring an additional 21,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Oklo in the third quarter valued at $11,483,000. Finally, Amundi lifted its position in shares of Oklo by 59.0% in the first quarter. Amundi now owns 164,824 shares of the company’s stock valued at $8,174,000 after acquiring an additional 61,161 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.