Oklo (NYSE:OKLO) Given New $60.00 Price Target at UBS Group

Oklo (NYSE:OKLO) had its price objective dropped by investment analysts at UBS Group from $95.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 13.45% from the company’s previous close.

OKLO has been the subject of a number of other reports. Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $111.00 to $127.00 in a report on Wednesday, January 21st. Barclays reduced their price target on Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, March 18th. Finally, Craig Hallum reissued a “hold” rating on shares of Oklo in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

Oklo Trading Down 4.3%

NYSE OKLO traded down $2.39 during trading on Thursday, reaching $52.89. The company’s stock had a trading volume of 2,585,864 shares, compared to its average volume of 10,439,769. The stock has a market capitalization of $9.18 billion, a PE ratio of -73.35 and a beta of 0.80. Oklo has a 1-year low of $17.42 and a 1-year high of $193.84. The business has a 50-day moving average price of $69.81 and a 200-day moving average price of $94.42.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same period in the prior year, the business posted ($0.74) EPS. As a group, analysts expect that Oklo will post -8.2 earnings per share for the current year.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 72,090 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $60.00, for a total value of $4,325,400.00. Following the completion of the sale, the chief financial officer directly owned 386,008 shares of the company’s stock, valued at approximately $23,160,480. This represents a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 72,960 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $4,377,600.00. Following the completion of the sale, the chief executive officer owned 751,533 shares in the company, valued at approximately $45,091,980. The trade was a 8.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,222,424 shares of company stock valued at $100,739,512. 18.90% of the stock is owned by company insiders.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its position in Oklo by 1,184.4% in the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock worth $8,063,000 after purchasing an additional 103,623 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Oklo by 427.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 171,128 shares of the company’s stock valued at $12,280,000 after buying an additional 138,659 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Oklo during the fourth quarter valued at about $32,000. Tulsa Wealth Advisors INC bought a new stake in shares of Oklo in the fourth quarter valued at about $332,000. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of Oklo by 45.5% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,488 shares of the company’s stock valued at $107,000 after buying an additional 465 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

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.