Canaccord Genuity Group Cuts Oklo (NYSE:OKLO) Price Target to $100.00

Key Points

• Canaccord Genuity Group cut Oklo’s price target to $100 from $125 while maintaining a “buy” rating, implying roughly 107% upside from the stock’s $48.38 price.
• Analyst sentiment remains broadly positive, with Oklo holding a consensus “Moderate Buy” rating and an average price target of $86.44, despite mixed views ranging from “strong buy” to “sell.”
• Oklo reported a quarterly loss of $0.28 per share, missing estimates by $0.12, while revenue reached $1.21 million and rose sharply year over year. Insiders sold nearly $29.9 million of stock over the past three months.

Oklo (NYSE:OKLO - Get Free Report) had its price objective decreased by analysts at Canaccord Genuity Group from $125.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 106.70% from the company's current price.

OKLO has been the subject of several other research reports. Weiss Ratings raised shares of Oklo from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 13th. Wolfe Research started coverage on Oklo in a research note on Tuesday, May 19th. They set a "peer perform" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $122.00 target price on shares of Oklo in a research note on Wednesday, May 13th. Tigress Financial began coverage on Oklo in a research report on Monday, April 27th. They set a "buy" rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Oklo in a report on Monday, May 11th. They set a "neutral" rating and a $83.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Oklo presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.44.

Oklo Trading Down 0.1%

Oklo stock opened at $48.38 on Monday. The firm has a market capitalization of $8.42 billion, a P/E ratio of -51.47 and a beta of 1.17. Oklo has a 1 year low of $36.61 and a 1 year high of $193.84. The business has a 50-day moving average of $50.88 and a 200-day moving average of $60.34.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. Oklo's revenue was up 11900.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. Research analysts anticipate that Oklo will post -0.74 EPS for the current fiscal year.

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider directly owned 36,175 shares in the company, valued at $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the transaction, the chief financial officer directly owned 397,642 shares of the company's stock, valued at approximately $27,206,665.64. This trade represents a 15.53% 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. Insiders sold 483,629 shares of company stock valued at $29,855,608 over the last three months. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in OKLO. Royal Bank of Canada grew its position in shares of Oklo by 162.6% in the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company's stock valued at $2,009,000 after acquiring an additional 57,497 shares during the period. AQR Capital Management LLC acquired a new position in shares of Oklo in the first quarter valued at $519,000. Millennium Management LLC boosted its holdings in shares of Oklo by 4,974.1% during the 1st 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 holdings 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 acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Oklo by 90.9% during the 1st 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 purchasing an additional 53,703 shares during the last quarter. Institutional investors own 85.03% of the company's stock.

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.

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