Truist Financial Issues Pessimistic Forecast for Oklo (NYSE:OKLO) Stock Price

Oklo (NYSE:OKLO) had its price objective dropped by equities researchers at Truist Financial from $51.00 to $31.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 11.70% from the stock’s current price.

OKLO has been the topic of a number of other reports. UBS Group lowered their price target on Oklo from $55.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, September 25th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. Canaccord Genuity Group decreased their target price on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Citigroup decreased their target price on shares of Oklo from $57.50 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and a consensus price target of $78.47.

Oklo Price Performance

OKLO opened at $27.75 on Thursday. The stock’s 50 day moving average price is $37.86 and its 200 day moving average price is $49.97. The stock has a market cap of $5.16 billion, a P/E ratio of -29.52 and a beta of 1.20. Oklo has a 12 month low of $26.36 and a 12 month high of $152.06.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same period in the previous year, the business earned ($0.18) EPS. The business’s revenue for the quarter was up 11900.0% compared to the same quarter last year. Equities analysts anticipate that Oklo will post -1.00 EPS for the current year.

Insider Activity

In other Oklo news, General Counsel Vivek Narayanadas sold 2,359 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $27.63, for a total value of $65,179.17. Following the transaction, the general counsel owned 15,810 shares in the company, valued at $436,830.30. The trade was a 12.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, CEO Jacob DeWitte sold 40,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $36.19, for a total value of $1,447,600.00. Following the completion of the transaction, the chief executive officer owned 391,533 shares in the company, valued at $14,169,579.27. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 290,353 shares of company stock valued at $10,928,769. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in Oklo by 55.3% in the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock valued at $30,760,000 after acquiring an additional 220,976 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Oklo by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company’s stock valued at $25,632,000 after purchasing an additional 5,945 shares in the last quarter. Swiss National Bank lifted its stake in shares of Oklo by 7.1% in the 1st quarter. Swiss National Bank now owns 324,900 shares of the company’s stock valued at $16,112,000 after purchasing an additional 21,400 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Oklo by 427.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 171,128 shares of the company’s stock valued at $12,280,000 after purchasing an additional 138,659 shares during the last quarter. Finally, Amundi lifted its stake in shares of Oklo by 59.0% in the 1st quarter. Amundi now owns 164,824 shares of the company’s stock valued at $8,174,000 after purchasing an additional 61,161 shares during the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.