Oklo (NYSE:OKLO) Given New $33.00 Price Target at Citigroup

Oklo (NYSE:OKLO) had its price target dropped by research analysts at Citigroup from $57.50 to $33.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 17.62% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Truist Financial set a $51.00 price objective on Oklo in a report on Monday, September 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. Piper Sandler reduced their price target on Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group decreased their price target on shares of Oklo from $55.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, September 25th. Finally, Guggenheim began coverage on shares of Oklo in a research note on Thursday, June 25th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $79.65.

Oklo Stock Up 2.1%

NYSE OKLO traded up $0.58 during trading on Wednesday, reaching $28.06. 3,661,089 shares of the stock traded hands, compared to its average volume of 11,120,118. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -29.91 and a beta of 1.20. The stock’s 50-day moving average price is $38.21 and its 200 day moving average price is $50.11. Oklo has a fifty-two week low of $26.36 and a fifty-two week high of $152.06.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned ($0.18) EPS. Oklo’s quarterly revenue was up 11900.0% on a year-over-year basis. Analysts anticipate that Oklo will post -1.02 EPS for the current fiscal year.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 1,775 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $37.39, for a total transaction of $66,367.25. Following the completion of the transaction, the insider directly owned 46,787 shares in the company, valued at $1,749,365.93. This represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob DeWitte sold 40,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $36.19, for a total transaction of $1,447,600.00. Following the transaction, the chief executive officer owned 391,533 shares of the company’s stock, valued at approximately $14,169,579.27. This represents a 9.27% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 290,353 shares of company stock worth $10,928,769. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC grew its stake in Oklo by 8.3% in the third quarter. Sowell Financial Services LLC now owns 25,246 shares of the company’s stock valued at $935,000 after purchasing an additional 1,933 shares in the last quarter. Carnegie Investment Counsel acquired a new position in shares of Oklo during the 3rd quarter worth approximately $212,000. AlphaStar Capital Management LLC raised its stake in shares of Oklo by 11.8% during the 3rd quarter. AlphaStar Capital Management LLC now owns 121,791 shares of the company’s stock worth $4,509,000 after purchasing an additional 12,808 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Oklo by 200.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,124 shares of the company’s stock worth $41,000 after purchasing an additional 750 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Oklo during the 3rd quarter worth approximately $238,000. 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.