Oklo (NYSE:OKLO) Cut to "Strong Sell" at Zacks Research

Key Points

• Oklo has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, indicating a significant shift in analyst sentiment regarding the company's stock.
• The company's stock is currently trading at $171.86, down by 1.3%, and has a market capitalization of $25.37 billion.
• Insider trading activity has seen substantial sales recently, with Director Michael Stuart Klein selling 50,000 shares worth approximately $6.69 million.

Oklo (NYSE:OKLO - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. BTIG Research reiterated a "neutral" rating on shares of Oklo in a research report on Tuesday, August 12th. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a research report on Monday, June 23rd. BNP Paribas upgraded Oklo to a "strong sell" rating in a research report on Friday, July 25th. HC Wainwright increased their price target on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Bank of America reiterated a "neutral" rating and issued a $117.00 price target (up previously from $92.00) on shares of Oklo in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Oklo has an average rating of "Hold" and an average target price of $98.14.

Oklo Stock Down 1.3%

NYSE:OKLO opened at $171.86 on Tuesday. Oklo has a 1-year low of $12.30 and a 1-year high of $193.84. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of -409.18 and a beta of 0.69. The stock has a fifty day simple moving average of $99.08 and a 200 day simple moving average of $64.21.

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). Equities analysts predict that Oklo will post -8.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company's stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Craig Bealmear sold 7,622 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the completion of the sale, the chief financial officer directly owned 121,913 shares of the company's stock, valued at approximately $12,366,854.72. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,387 shares of company stock valued at $52,698,580 in the last 90 days. Insiders own 18.90% of the company's stock.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Plancorp LLC raised its stake in shares of Oklo by 1.2% during the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company's stock worth $680,000 after purchasing an additional 73 shares in the last quarter. KBC Group NV raised its stake in shares of Oklo by 11.8% during the 2nd quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after purchasing an additional 195 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Oklo during the 3rd quarter worth about $27,000. Fourth Dimension Wealth LLC raised its stake in shares of Oklo by 125.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after purchasing an additional 250 shares in the last quarter. Finally, MRA Advisory Group raised its stake in shares of Oklo by 2.8% during the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other 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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