Oklo (NYSE:OKLO) Stock Price Target Cut by Truist Financial

Oklo (NYSE:OKLO) had its price target reduced by investment analysts at Truist Financial from $51.00 to $31.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 11.70% from the stock’s current price.

OKLO has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. UBS Group reduced their target price on Oklo from $55.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, September 25th. Piper Sandler decreased their target price on Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday. Barclays decreased their target price on Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Citigroup lowered their price target on Oklo from $57.50 to $33.00 and set a “neutral” rating for the company in a report on Wednesday. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average price target of $78.47.

Oklo Trading Up 1.0%

Shares of NYSE:OKLO opened at $27.75 on Thursday. The firm has a market cap of $5.16 billion, a PE ratio of -29.52 and a beta of 1.20. The company has a fifty day simple moving average of $37.86 and a 200 day simple moving average of $49.97. Oklo has a 12-month low of $26.36 and a 12-month high of $152.06.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the business earned ($0.18) EPS. Oklo’s revenue was up 11900.0% compared to the same quarter last year. As a group, equities research analysts forecast that Oklo will post -1.00 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, General Counsel Vivek Narayanadas sold 3,264 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total transaction of $129,809.28. Following the completion of the transaction, the general counsel owned 7,822 shares in the company, valued at $311,080.94. The trade was a 29.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 80,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $38.69, for a total value of $3,095,200.00. Following the transaction, the chief executive officer owned 398,039 shares of the company’s stock, valued at approximately $15,400,128.91. The trade was a 16.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 290,353 shares of company stock worth $10,928,769. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after acquiring an additional 220,976 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Oklo by 1.2% in 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 during the last quarter. Swiss National Bank boosted its stake in Oklo by 7.1% during 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 period. Rockefeller Capital Management L.P. boosted its stake in Oklo by 427.1% during 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 period. Finally, Amundi boosted its stake in Oklo by 59.0% during 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 period. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.