Bank of America Begins Coverage on Oklo (NYSE:OKLO)

Key Points

• Bank of America has initiated coverage of Oklo (NYSE:OKLO) with a "buy" rating and a price target of $92.00, indicating a potential upside of 24.49% from its previous close.
• Other analysts present mixed views, with ratings ranging from Strong Buy to Strong Sell, and an average price target of $66.45.
• Insider trading activity is notable, as CEO Jacob Dewitte sold 300,000 shares and director Michael Stuart Klein sold 150,000 shares recently, indicating fluctuations in ownership stakes.

Analysts at Bank of America began coverage on shares of Oklo (NYSE:OKLO - Get Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $92.00 price target on the stock. Bank of America's price objective points to a potential upside of 24.49% from the stock's previous close.

Other equities analysts have also issued reports about the company. UBS Group started coverage on Oklo in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 price objective on the stock. Wedbush lifted their price objective on Oklo from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. BTIG Research reiterated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, BNP Paribas raised Oklo to a "strong sell" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Oklo currently has an average rating of "Moderate Buy" and an average price target of $66.45.

Oklo Trading Up 3.8%

Shares of OKLO stock opened at $73.9010 on Tuesday. The business's 50-day moving average price is $65.70 and its 200-day moving average price is $45.42. Oklo has a 12 month low of $5.35 and a 12 month high of $85.35. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -178.99 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). On average, sell-side analysts predict that Oklo will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Stuart Klein sold 150,000 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total value of $9,411,000.00. Following the transaction, the director owned 250,000 shares in the company, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 over the last quarter. Corporate insiders own 18.90% of the company's stock.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Caldwell Sutter Capital Inc. bought a new position in Oklo during the 2nd quarter worth approximately $25,000. Private Trust Co. NA purchased a new stake in Oklo in the 2nd quarter worth approximately $25,000. Fourth Dimension Wealth LLC lifted its holdings in Oklo by 125.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Oklo in the 4th quarter worth approximately $27,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Oklo in the 2nd quarter worth approximately $28,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

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