Truist Financial Issues Pessimistic Forecast for Oklo (NYSE:OKLO) Stock Price

Key Points

• Truist Financial cut its Oklo price target from $31 to $28 and maintained a Hold rating; the new target implies 18.7% upside from the prior close.
• Analyst views remain mixed: Oklo has a consensus “Moderate Buy” rating and an average target of $67.67, while several firms have recently lowered their targets.
• Oklo reported a quarterly loss of $0.22 per share, narrower than the $0.27 loss analysts expected, and revenue of $1.86 million versus a $1.03 million consensus estimate.

Oklo (NYSE:OKLO - Get Free Report) had its target price reduced by equities research analysts at Truist Financial from $31.00 to $28.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential upside of 18.70% from the stock's previous close.

Several other analysts have also issued reports on OKLO. HC Wainwright reiterated a "buy" rating and set a $90.00 target price on shares of Oklo in a report on Monday. Canaccord Genuity Group decreased their price target on Oklo from $100.00 to $66.00 and set a "buy" rating for the company in a research note on Monday. B. Riley Financial decreased their price target on Oklo from $92.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, October 28th. UBS Group lowered their price target on Oklo from $55.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, September 25th. Finally, Wedbush reiterated an "outperform" rating and set a $36.00 price objective on shares of Oklo in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.67.

Oklo Trading Down 3.5%

Oklo stock opened at $23.59 on Friday. The company has a market cap of $4.61 billion, a P/E ratio of -24.72 and a beta of 1.31. Oklo has a 1-year low of $18.53 and a 1-year high of $115.72. The company has a fifty day simple moving average of $32.43 and a 200 day simple moving average of $51.11.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Friday, November 6th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $1.86 million for the quarter, compared to the consensus estimate of $1.03 million. During the same period last year, the firm earned ($0.20) earnings per share. On average, equities research analysts forecast that Oklo will post -0.99 EPS for the current year.

Insider Activity at Oklo

In other news, insider Alexandra Renner sold 1,068 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $26.71, for a total transaction of $28,526.28. Following the transaction, the insider owned 593,750 shares in the company, valued at approximately $15,859,062.50. This trade represents a 0.18% 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, CFO Richard Bealmear sold 16,727 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $25.55, for a total value of $427,374.85. Following the transaction, the chief financial officer owned 467,261 shares in the company, valued at approximately $11,938,518.55. This trade represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 350,203 shares of company stock valued at $12,424,945. Insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC lifted its position in shares of Oklo by 5.7% during the 3rd quarter. Palumbo Wealth Management LLC now owns 9,549 shares of the company's stock worth $354,000 after buying an additional 512 shares during the last quarter. Essex Financial Services Inc. boosted its stake in Oklo by 47.5% in the third quarter. Essex Financial Services Inc. now owns 5,637 shares of the company's stock valued at $209,000 after buying an additional 1,815 shares in the last quarter. First Trust Advisors LP grew its position in Oklo by 116.9% in the third quarter. First Trust Advisors LP now owns 72,336 shares of the company's stock valued at $2,678,000 after acquiring an additional 38,979 shares during the last quarter. Allianz SE grew its position in Oklo by 595.5% in the third quarter. Allianz SE now owns 1,537 shares of the company's stock valued at $57,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Intesa Sanpaolo Wealth Management acquired a new position in Oklo during the third quarter worth about $259,000. Institutional investors own 85.03% of the company's stock.

Trending Headlines about Oklo

Here are a few of the latest headlines about OKLO:

• Positive Sentiment: The U.S. Department of Energy cleared Oklo’s Groves-1 test reactor for unrestricted operations, allowing research, testing and workforce training to begin. The milestone advances work intended to support future reactor projects. Oklo Advances Groves-1 Reactor Into Research and Testing Phase
• Positive Sentiment: Oklo signed multi-year HALEU fuel-supply contracts with Centrus Energy for its planned Ohio campus. The agreements address a key fuel requirement for deployment of its Aurora powerhouses, though they include prepayments. Oklo, Centrus Secure Fuel Supply for Aurora Powerhouse Deployment in Ohio
• Negative Sentiment: Craig-Hallum cut its price target to $27 from $53 and maintained a Hold rating, indicating more cautious expectations despite Oklo’s better-than-expected quarterly results. Craig-Hallum Just Cut Its Oklo Target From $53 to $27

Oklo Company Profile

Oklo Inc. develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet. The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.

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