HC Wainwright Reiterates “Buy” Rating for Oklo (NYSE:OKLO)

Oklo (NYSE:OKLO)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $90.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 86.03% from the stock’s current price.

OKLO has been the subject of a number of other research reports. UBS Group reduced their target price on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Wolfe Research started coverage on Oklo in a research report on Tuesday, May 19th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Oklo in a research note on Monday, May 11th. They set a “neutral” rating and a $83.00 target price on the stock. Tigress Financial began coverage on shares of Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Bank of America initiated coverage on shares of Oklo in a report on Friday, May 22nd. They set a “buy” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and a consensus target price of $86.44.

Oklo Stock Down 0.1%

OKLO stock opened at $48.38 on Monday. The stock has a market capitalization of $8.42 billion, a P/E ratio of -51.47 and a beta of 1.17. The firm has a 50-day simple moving average of $50.88 and a 200-day simple moving average of $60.34. Oklo has a 52 week low of $36.61 and a 52 week high of $193.84.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 11900.0% compared to the same quarter last year. On average, analysts expect that Oklo will post -0.74 earnings per share for the current year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the sale, the chief executive officer directly owned 538,039 shares of the company’s stock, valued at approximately $36,742,683.31. This represents a 20.65% 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. Insiders have sold a total of 483,629 shares of company stock worth $29,855,608 in the last ninety days. Insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Oklo by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after acquiring an additional 44,036 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after acquiring an additional 481,288 shares during the period. State Street Corp boosted its position in shares of Oklo by 23.6% during the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after acquiring an additional 584,184 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Oklo by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after acquiring an additional 185,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Oklo by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after purchasing an additional 90,213 shares during the period. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.