Brokerages Set Oklo Inc. (NYSE:OKLO) Price Target at $85.03

Shares of Oklo Inc. (NYSE:OKLO) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $85.0312.

Several equities research analysts recently commented on the company. Canaccord Genuity Group dropped their target price on Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, August 10th. JPMorgan Chase & Co. started coverage on Oklo in a report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a research report on Tuesday, May 26th. UBS Group dropped their price objective on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Finally, Truist Financial reduced their target price on shares of Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research report on Monday, August 10th.

Oklo Price Performance

NYSE:OKLO opened at $43.86 on Tuesday. The business’s 50-day moving average is $48.54 and its two-hundred day moving average is $58.55. Oklo has a 12 month low of $36.61 and a 12 month high of $193.84. The firm has a market capitalization of $8.16 billion, a PE ratio of -46.66 and a beta of 1.17.

Oklo (NYSE:OKLO) last issued 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 during the quarter, compared to the consensus estimate of $0.09 million. During the same quarter in the previous year, the company posted ($0.18) EPS. Oklo’s quarterly revenue was up 11900.0% compared to the same quarter last year. Equities analysts anticipate that Oklo will post -0.9 EPS for the current year.

Insider Activity at Oklo

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the sale, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. The trade was a 22.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the transaction, the chief executive officer owned 511,533 shares in the company, valued at $27,008,942.40. This represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 483,629 shares of company stock valued at $29,855,608. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its position in shares of Oklo by 344.6% in the 1st quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock valued at $2,484,000 after purchasing an additional 38,829 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock worth $2,054,000 after buying an additional 17,253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Oklo by 109.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock valued at $24,774,000 after acquiring an additional 180,377 shares in the last quarter. Prakash Investment Advisors LLC acquired a new stake in Oklo in the fourth quarter valued at $1,246,000. Finally, M&T Bank Corp boosted its stake in Oklo by 740.6% during the 4th quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after acquiring an additional 19,945 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other 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.