Oklo (NYSE:OKLO) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of Oklo (NYSE:OKLO) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $80.00 price target on the stock. Bank of America‘s target price suggests a potential upside of 18.60% from the company’s current price.

A number of other equities analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Wednesday, March 18th. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of Oklo in a report on Wednesday, May 13th. B. Riley Financial decreased their price target on Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Tigress Financial initiated coverage on Oklo in a research report on Monday, April 27th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Oklo has a consensus rating of “Moderate Buy” and a consensus price target of $82.58.

Oklo Stock Performance

Shares of OKLO traded up $2.36 during midday trading on Friday, hitting $67.45. The company had a trading volume of 3,092,378 shares, compared to its average volume of 11,659,936. Oklo has a 1 year low of $43.63 and a 1 year high of $193.84. The company’s 50-day simple moving average is $60.90 and its 200-day simple moving average is $76.54. The firm has a market capitalization of $11.74 billion, a P/E ratio of -80.25 and a beta of 1.16.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the previous year, the company earned ($0.07) earnings per share. Equities analysts predict that Oklo will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Richard Craig Bealmear sold 72,090 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $60.00, for a total value of $4,325,400.00. Following the transaction, the chief financial officer owned 386,008 shares in the company, valued at approximately $23,160,480. This represents a 15.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $50.39, for a total transaction of $7,054,600.00. Following the transaction, the chief executive officer directly owned 656,483 shares in the company, valued at $33,080,178.37. This represents a 17.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 819,588 shares of company stock worth $49,774,300. 18.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gables Capital Management Inc. acquired a new position in shares of Oklo in the third quarter worth approximately $28,000. Nemes Rush Group LLC bought a new position in shares of Oklo during the third quarter valued at about $28,000. CI Investments Inc. increased its position in shares of Oklo by 153.0% during the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after acquiring an additional 179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Oklo during the third quarter valued at about $33,000. Finally, Comprehensive Financial Planning Inc. PA raised its holdings in shares of Oklo by 950.0% in the 3rd quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Company Profile

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.