Oklo (NYSE:OKLO) Given Outperform Rating at Wedbush

Oklo (NYSE:OKLO)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They presently have a $36.00 price objective on the stock. Wedbush‘s price objective indicates a potential upside of 43.28% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. 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 note on Wednesday, October 21st. Truist Financial lowered their price target on shares of Oklo from $51.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research report on Wednesday. Piper Sandler cut their price objective on shares of Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Canaccord Genuity Group decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average target price of $69.72.

Oklo Price Performance

OKLO stock traded up $1.58 during trading on Monday, hitting $25.13. 2,130,662 shares of the company traded hands, compared to its average volume of 11,066,100. Oklo has a 1 year low of $18.53 and a 1 year high of $117.44. The company has a market cap of $4.67 billion, a PE ratio of -25.90 and a beta of 1.31. The stock’s 50-day simple moving average is $33.56 and its 200 day simple moving average is $52.36.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.05. The company had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $1.03 million. During the same quarter in the prior year, the company posted ($0.20) EPS. Research analysts expect that Oklo will post -1.00 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Vivek Narayanadas sold 1,021 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $26.50, for a total transaction of $27,056.50. Following the transaction, the general counsel owned 10,669 shares in the company, valued at $282,728.50. This trade represents a 8.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexandra Renner sold 1,068 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $26.71, for a total value of $28,526.28. Following the transaction, the insider owned 593,750 shares in the company, valued at $15,859,062.50. This trade represents a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 350,203 shares of company stock valued at $12,424,945. 12.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Oklo during the second quarter valued at $24,532,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Oklo in the third quarter valued at about $11,483,000. United Capital Management of KS Inc. acquired a new stake in shares of Oklo in the third quarter valued at about $9,406,000. Bank of America Corp DE increased its stake 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 purchasing an additional 220,976 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Oklo by 48.5% during the third quarter. Russell Investments Group Ltd. now owns 371,761 shares of the company’s stock worth $13,763,000 after purchasing an additional 121,438 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet.

The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.

Founded in 2013, Oklo is headquartered in Santa Clara, California.