Oklo (NYSE:OKLO) Coverage Initiated at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has initiated coverage on Oklo (NYSE:OKLO) with a buy rating and a price target of $175.00, indicating a potential upside of 27.20% from the previous close.
• Insider trading activity shows significant sales, including CEO Jacob Dewitte selling 300,000 shares for approximately $33.68 million, reducing his ownership stake by 2.98%.
• Analysts have a consensus rating of "Hold" on Oklo, with a consensus price target of $98.14, amidst a mix of buy, hold, and sell ratings from various firms.

Investment analysts at Canaccord Genuity Group started coverage on shares of Oklo (NYSE:OKLO - Get Free Report) in a report issued on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $175.00 price target on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 27.20% from the company's previous close.

Several other analysts have also issued reports on the company. HC Wainwright increased their target price on Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. William Blair reissued an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Wedbush lifted their price objective on shares of Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Cantor Fitzgerald set a $73.00 target price on Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $98.14.

Oklo Stock Up 2.1%

Shares of Oklo stock opened at $137.58 on Thursday. The stock has a market capitalization of $20.31 billion, a price-to-earnings ratio of -331.81 and a beta of 0.69. Oklo has a twelve month low of $9.01 and a twelve month high of $147.18. The company has a 50-day simple moving average of $90.87 and a two-hundred day simple moving average of $59.59.

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

Insider Transactions at Oklo

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $70.09, for a total transaction of $2,900,814.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares of the company's stock, valued at approximately $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,387 shares of company stock worth $52,698,580 in the last 90 days. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Large investors have recently modified their holdings of the business. Rhumbline Advisers bought a new stake in shares of Oklo in the first quarter worth $65,000. Park Avenue Securities LLC acquired a new position in Oklo during the 1st quarter worth about $374,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Oklo in the first quarter valued at about $216,000. Noble Wealth Management PBC bought a new position in shares of Oklo during the first quarter worth about $104,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Oklo during the first quarter worth about $254,000. 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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