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

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

Several other equities research analysts also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Oklo in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Barclays cut their price target on shares of Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday. Piper Sandler cut their price target on shares of Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a report on Monday. Finally, UBS Group reduced their price target on shares of Oklo from $55.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.65.

Oklo Price Performance

Shares of Oklo stock traded up $0.58 during midday trading on Wednesday, hitting $28.06. 3,661,089 shares of the company were exchanged, compared to its average volume of 11,120,118. The firm has a market cap of $5.22 billion, a P/E ratio of -29.91 and a beta of 1.20. Oklo has a 52 week low of $26.36 and a 52 week high of $152.06. The firm has a 50 day simple moving average of $38.21 and a 200-day simple moving average of $50.11.

Oklo (NYSE:OKLO) last announced its quarterly 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 business had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the business earned ($0.18) EPS. Oklo’s revenue for the quarter was up 11900.0% on a year-over-year basis. Equities research analysts expect that Oklo will post -1.02 earnings per share for the current year.

Insider Activity at Oklo

In other news, insider Alexandra Renner sold 1,100 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $37.39, for a total transaction of $41,129.00. Following the sale, the insider owned 477,595 shares in the company, valued at approximately $17,857,277.05. This represents a 0.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Hanson sold 1,100 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $41,129.00. Following the completion of the sale, the insider owned 361,350 shares of the company’s stock, valued at approximately $13,510,876.50. This trade represents a 0.30% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 290,353 shares of company stock valued at $10,928,769. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted 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 worth $2,484,000 after purchasing an additional 38,829 shares during the last quarter. Bank of America Corp DE increased its holdings in Oklo by 55.3% in the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock valued at $30,760,000 after purchasing an additional 220,976 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Oklo in the second quarter valued at about $2,096,000. Hsbc Holdings PLC lifted its stake in Oklo by 1,184.4% in the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock valued at $8,063,000 after buying an additional 103,623 shares during the period. Finally, Optiver Holding B.V. acquired a new position in Oklo in the first quarter valued at about $2,414,000. 85.03% of the stock is owned by institutional investors.

About Oklo

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.