BNP Paribas Upgrades Oklo (NYSE:OKLO) to "Strong Sell"

Key Points

• BNP Paribas has upgraded Oklo (NYSE:OKLO) to a "strong sell" rating, indicating concerns about the company's stock performance.
• Oklo's stock has seen significant activity from insiders, with Director Michael Stuart Klein selling 150,000 shares and CEO Jacob Dewitte selling 300,000 shares recently.
• Currently, Oklo has an average rating of "Hold" with a price target of $59.33, amid varying ratings from multiple research firms.

Oklo (NYSE:OKLO - Get Free Report) was upgraded by stock analysts at BNP Paribas to a "strong sell" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other research firms have also commented on OKLO. BTIG Research assumed coverage on shares of Oklo in a research report on Friday, April 11th. They issued a "neutral" rating for the company. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price target for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. HC Wainwright assumed coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. William Blair assumed coverage on Oklo in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Daiwa America upgraded Oklo to a "hold" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Oklo currently has an average rating of "Hold" and an average price target of $59.33.

Oklo Stock Performance

Shares of NYSE OKLO opened at $75.37 on Friday. Oklo has a fifty-two week low of $5.35 and a fifty-two week high of $77.17. The stock has a market cap of $10.52 billion, a PE ratio of -13.93 and a beta of 0.57. The stock has a fifty day moving average of $56.39 and a 200-day moving average of $39.62.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, sell-side analysts predict that Oklo will post -8.2 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Caldwell Sutter Capital Inc. bought a new stake in Oklo in the second quarter worth $25,000. ORG Partners LLC increased its holdings in shares of Oklo by 281.0% in the second quarter. ORG Partners LLC now owns 800 shares of the company's stock worth $41,000 after buying an additional 590 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Oklo in the 2nd quarter valued at about $57,000. TD Waterhouse Canada Inc. purchased a new stake in Oklo during the 4th quarter valued at about $27,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Oklo by 205.4% during the 2nd quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the company's stock valued at $76,000 after acquiring an additional 908 shares during the period. Institutional investors own 85.03% of the company's stock.

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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