Oklo (NYSE:OKLO) Coverage Initiated at Bank of America

Equities research analysts at Bank of America started coverage on shares of Oklo (NYSE:OKLO) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating and a $80.00 price target on the stock. Bank of America‘s price target would suggest a potential upside of 18.60% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Wolfe Research started coverage on shares of Oklo in a report on Tuesday. They set a “peer perform” rating for the company. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Royal Bank Of Canada set a $80.00 target price on Oklo in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a report on Wednesday, May 13th. Finally, Texas Capital raised shares of Oklo to a “strong-buy” rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.58.

Oklo Trading Up 3.6%

Shares of OKLO traded up $2.36 during mid-day trading on Friday, reaching $67.45. 3,092,378 shares of the stock traded hands, compared to its average volume of 11,659,936. The company has a market cap of $11.74 billion, a price-to-earnings ratio of -80.25 and a beta of 1.16. Oklo has a 1 year low of $43.63 and a 1 year high of $193.84. The firm has a fifty day moving average price of $60.90 and a 200 day moving average price of $76.54.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, sell-side analysts anticipate that Oklo will post -0.77 EPS for the current year.

Insider Transactions at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total value of $7,054,600.00. Following the transaction, the chief executive officer owned 656,483 shares of the company’s stock, valued at $33,080,178.37. This represents a 17.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 72,090 shares of Oklo stock in a transaction 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 sale, the chief financial officer owned 386,008 shares of the company’s stock, valued at approximately $23,160,480. This trade represents a 15.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 819,588 shares of company stock valued at $49,774,300. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently added to or reduced their stakes in OKLO. Vanguard Group Inc. lifted its stake in shares of Oklo by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after buying an additional 44,036 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. Van ECK Associates Corp grew its stake in Oklo by 13.9% in the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after acquiring an additional 481,288 shares during the period. State Street Corp lifted its holdings in Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after purchasing an additional 584,184 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 worth $201,671,000 after purchasing an additional 185,265 shares during the last quarter. 85.03% of the stock is currently owned by 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.