Oklo (NYSE:OKLO) Upgraded to “Strong Sell” at BNP Paribas

BNP Paribas upgraded shares of Oklo (NYSE:OKLO) to a strong sell rating in a report published on Friday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. William Blair started coverage on Oklo in a report on Wednesday, May 28th. They set an “outperform” rating on the stock. Wedbush set a $75.00 price objective on Oklo and gave the stock an “outperform” rating in a report on Thursday, June 12th. Cantor Fitzgerald initiated coverage on Oklo in a report on Tuesday, July 15th. They set an “overweight” rating and a $73.00 price objective on the stock. BTIG Research initiated coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. Finally, Citigroup upped their target price on Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Oklo currently has a consensus rating of “Hold” and an average price target of $59.33.

Oklo Stock Up 1.0%

OKLO opened at $75.37 on Friday. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of -13.93 and a beta of 0.57. Oklo has a 52 week low of $5.35 and a 52 week high of $77.17. The business’s 50 day moving average is $56.39 and its two-hundred day moving average is $39.62.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Equities analysts expect that Oklo will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the sale, the director owned 200,000 shares in the company, valued at approximately $10,970,000. This trade represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares of the company’s stock, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock valued at $35,066,500. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OKLO. Raymond James Financial Inc. bought a new position in Oklo during the 4th quarter worth approximately $2,209,000. HighTower Advisors LLC bought a new position in Oklo during the 4th quarter worth approximately $348,000. Swiss National Bank bought a new position in Oklo during the 4th quarter worth approximately $1,265,000. Commonwealth Equity Services LLC bought a new position in Oklo during the 4th quarter worth approximately $877,000. Finally, KLP Kapitalforvaltning AS bought a new position in Oklo during the 4th quarter worth approximately $287,000. Institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.