Oklo Inc. (NYSE:OKLO) Given Average Recommendation of “Moderate Buy” by Brokerages

Oklo Inc. (NYSE:OKLO) has received an average recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $84.1765.

A number of equities research analysts recently commented on OKLO shares. Weiss Ratings upgraded Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Tigress Financial started coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. Craig Hallum reiterated a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Citigroup upped their price objective on Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, B. Riley Financial lowered their price target on Oklo from $129.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, March 18th.

Oklo Trading Up 0.1%

NYSE OKLO opened at $50.06 on Monday. The stock has a 50-day simple moving average of $64.76 and a 200 day simple moving average of $69.29. The company has a market capitalization of $8.71 billion, a PE ratio of -59.60 and a beta of 1.10. Oklo has a 12 month low of $44.88 and a 12 month high of $193.84.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the company posted ($0.07) earnings per share. As a group, sell-side analysts predict that Oklo will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total value of $612,205.92. Following the completion of the sale, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 699,971 shares of company stock worth $44,221,357 over the last ninety days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Several large investors have recently modified their holdings of OKLO. Royal Bank of Canada increased its holdings in shares of Oklo by 162.6% in the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock worth $2,009,000 after acquiring an additional 57,497 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Oklo during the first quarter worth about $519,000. Millennium Management LLC boosted its position in shares of Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after buying an additional 570,532 shares during the period. NewEdge Advisors LLC boosted its position in shares of Oklo by 165.6% during the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after buying an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Oklo by 90.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after buying an additional 53,703 shares during the period. 85.03% of the stock is currently owned by 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.