B. Riley Financial Issues Pessimistic Forecast for Oklo (NYSE:OKLO) Stock Price

Oklo (NYSE:OKLO) had its price objective lowered by stock analysts at B. Riley Financial from $92.00 to $61.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial‘s price target would indicate a potential upside of 123.66% from the company’s previous close.

Other analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Oklo in a report on Monday, August 10th. Truist Financial cut their target price on Oklo from $51.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, October 22nd. Citigroup cut their price objective on shares of Oklo from $57.50 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. Piper Sandler cut their price target on shares of Oklo from $55.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Canaccord Genuity Group lowered their target price on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.83.

Oklo Stock Performance

NYSE:OKLO opened at $27.27 on Wednesday. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -29.01 and a beta of 1.20. The stock’s fifty day moving average price is $36.47 and its two-hundred day moving average price is $55.27. Oklo has a 52-week low of $25.39 and a 52-week high of $152.06.

Oklo (NYSE:OKLO) last released its 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 firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same period in the prior year, the firm posted ($0.18) EPS. The firm’s revenue was up 11900.0% compared to the same quarter last year. On average, equities analysts predict that Oklo will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob DeWitte sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $38.69, for a total transaction of $3,095,200.00. Following the transaction, the chief executive officer owned 398,039 shares of the company’s stock, valued at $15,400,128.91. The trade was a 16.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Bealmear sold 16,430 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $38.76, for a total value of $636,826.80. Following the completion of the sale, the chief financial officer owned 455,976 shares in the company, valued at $17,673,629.76. This represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 291,374 shares of company stock valued at $10,955,825 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in shares of Oklo by 55.3% during the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after buying an additional 220,976 shares during the last quarter. Bank of New York Mellon Corp grew its position in Oklo by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company’s stock worth $25,632,000 after buying an additional 5,945 shares in the last quarter. Swiss National Bank increased its position in shares of Oklo by 7.1% in the first quarter. Swiss National Bank now owns 324,900 shares of the company’s stock worth $16,112,000 after purchasing an additional 21,400 shares during the period. Amundi raised its position in Oklo by 59.0% during the first quarter. Amundi now owns 164,824 shares of the company’s stock valued at $8,174,000 after purchasing an additional 61,161 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Oklo by 11.9% in the first quarter. Cetera Investment Advisers now owns 143,299 shares of the company’s stock worth $7,106,000 after acquiring an additional 15,216 shares during the last quarter. Institutional investors 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.