Oklo (NYSE:OKLO) Given New $61.00 Price Target at B. Riley Financial

Oklo (NYSE:OKLO) had its target price reduced by B. Riley Financial from $92.00 to $61.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial‘s target price points to a potential upside of 123.66% from the company’s previous close.

A number of other brokerages also recently weighed in on OKLO. Truist Financial lowered their price objective on shares of Oklo from $51.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, October 22nd. TD Cowen assumed coverage on shares of Oklo in a research report on Monday. They issued a “hold” rating and a $26.00 target price for the company. Piper Sandler decreased their target price on shares of Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Citigroup dropped their target price on Oklo from $57.50 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. Finally, Canaccord Genuity Group cut their price objective on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.83.

Oklo Price Performance

OKLO stock opened at $27.27 on Wednesday. The stock has a market capitalization of $5.07 billion, a P/E ratio of -29.01 and a beta of 1.20. Oklo has a 1-year low of $25.39 and a 1-year high of $152.06. The business has a fifty day moving average price of $36.47 and a 200-day moving average price of $55.27.

Oklo (NYSE:OKLO) last issued 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 business had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. The business’s revenue was up 11900.0% compared to the same quarter last year. During the same period last year, the business posted ($0.18) earnings per share. As a group, analysts anticipate that Oklo will post -1.01 earnings per share for the current year.

Insider Transactions at Oklo

In related news, 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 transaction of $41,129.00. Following the completion of the transaction, the insider owned 361,350 shares of the company’s stock, valued at $13,510,876.50. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Carroll Murphy Goodwin sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $66,367.25. Following the completion of the sale, the insider owned 46,787 shares of the company’s stock, valued at $1,749,365.93. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 291,374 shares of company stock worth $10,955,825. Insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Oklo by 344.6% during 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. Bank of America Corp DE lifted its position 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 purchasing an additional 220,976 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Oklo during the second quarter worth approximately $2,096,000. Hsbc Holdings PLC grew its position in Oklo by 1,184.4% in the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock worth $8,063,000 after purchasing an additional 103,623 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in Oklo during the first quarter valued at about $2,414,000. Hedge funds and other 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.