JPMorgan Chase & Co. Begins Coverage on Oklo (NYSE:OKLO)

Key Points

• JPMorgan began coverage of Oklo with a neutral rating and an $83 price target, implying about 14% upside from the prior close.
• Analyst views on Oklo remain mixed, with recent targets ranging from $73.50 to $130; MarketBeat shows an average rating of Moderate Buy and an average target price of $87.42.
• Oklo shares were up 0.4% to $72.81, while the company reported a quarterly EPS loss of $0.27, missing estimates; insiders also sold shares recently, including CEO Jacob Dewitte’s sale of 140,000 shares.

Stock analysts at JPMorgan Chase & Co. began coverage on shares of Oklo (NYSE:OKLO - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set a "neutral" rating and a $83.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 14.00% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. Barclays lowered their price objective on Oklo from $146.00 to $82.00 and set an "overweight" rating on the stock in a research report on Monday, February 23rd. Citigroup cut their target price on Oklo from $95.00 to $73.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Oklo in a research note on Wednesday, March 18th. Canaccord Genuity Group cut their price objective on Oklo from $175.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Finally, Tigress Financial initiated coverage on Oklo in a research report on Monday, April 27th. They set a "buy" rating and a $130.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $87.42.

Oklo Stock Up 0.4%

Shares of Oklo stock opened at $72.81 on Monday. The company has a market cap of $12.66 billion, a PE ratio of -101.12 and a beta of 1.16. The business has a 50 day moving average price of $60.27 and a 200-day moving average price of $81.43. Oklo has a 52 week low of $26.16 and a 52 week high of $193.84.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same quarter in the prior year, the company earned ($0.74) earnings per share. As a group, research analysts anticipate that Oklo will post -0.75 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $70.50, for a total value of $9,870,000.00. Following the completion of the sale, the chief executive officer owned 598,039 shares of the company's stock, valued at approximately $42,161,749.50. The trade was a 18.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 16,342 shares of Oklo stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $51.08, for a total transaction of $834,749.36. Following the completion of the sale, the chief financial officer directly owned 386,008 shares of the company's stock, valued at approximately $19,717,288.64. This trade represents a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 809,040 shares of company stock valued at $49,162,094. Company insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently added to or reduced their stakes in OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oklo by 71.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company's stock worth $792,822,000 after purchasing an additional 2,968,981 shares during the period. Vanguard Group Inc. grew its position in Oklo by 33.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company's stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares during the period. State Street Corp grew its position in Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the period. Van ECK Associates Corp grew its position in Oklo by 61.0% in the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company's stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the period. Finally, Norges Bank bought a new stake in shares of Oklo during the 4th quarter valued at $73,786,000. 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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