JPMorgan Chase & Co. Begins Coverage on Oklo (NYSE:OKLO)

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Oklo (NYSE:OKLO) in a research note issued to investors on Monday,Benzinga reports. The firm set a “neutral” rating and a $83.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.00% from the company’s current price.

Other research analysts also recently issued research reports about the stock. B. Riley Financial dropped their target price on shares of Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a report on Wednesday, March 18th. Barclays dropped their target price on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Oklo has an average rating of “Moderate Buy” and an average target price of $87.42.

Oklo Stock Up 0.4%

OKLO stock opened at $72.81 on Monday. Oklo has a twelve month low of $26.16 and a twelve month high of $193.84. The stock has a market cap of $12.66 billion, a P/E ratio of -101.12 and a beta of 1.16. The business’s 50-day moving average price is $60.27 and its 200-day moving average price is $81.43.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter in the previous year, the firm earned ($0.74) earnings per share. On average, equities research analysts expect that Oklo will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $70.50, for a total value of $9,870,000.00. Following the sale, the chief executive officer owned 598,039 shares in the company, valued at $42,161,749.50. The trade was a 18.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 16,342 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $51.08, for a total transaction of $834,749.36. Following the completion of the sale, the chief financial officer owned 386,008 shares in the company, valued at approximately $19,717,288.64. The trade was a 4.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 809,040 shares of company stock worth $49,162,094 in the last 90 days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Oklo

Several hedge funds have recently made changes to their positions in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after buying an additional 2,968,981 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Oklo by 33.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after buying an additional 2,901,909 shares in the last quarter. State Street Corp raised its position in shares of Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after buying an additional 1,752,946 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Oklo during the 4th quarter valued at about $73,786,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

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.