Oklo (NYSE:OKLO) Lowered to "Hold" Rating by Seaport Res Ptn

Key Points

• Oklo's stock has been downgraded from a "strong-buy" rating to a "hold" rating by Seaport Res Ptn, reflecting a shift in analysts' expectations.
• The current average target price for Oklo shares is $72.82, with recent ratings varying from strong-buy to sell by different analysts.
• Insider trading activity has been notable, with CEO Jacob Dewitte selling 300,000 shares, and over the last three months, insiders sold a total of 441,387 shares valued at approximately $28.9 million.

Oklo (NYSE:OKLO - Get Free Report) was downgraded by stock analysts at Seaport Res Ptn from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on OKLO. Citigroup boosted their price target on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. UBS Group began coverage on Oklo in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 target price for the company. Bank of America initiated coverage on Oklo in a research report on Tuesday, August 26th. They set a "buy" rating and a $92.00 price target on the stock. Finally, Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $72.82.

Oklo Stock Up 1.6%

Shares of OKLO stock opened at $142.57 on Tuesday. The stock has a fifty day moving average of $78.81 and a 200 day moving average of $52.35. Oklo has a 52 week low of $7.90 and a 52 week high of $143.75. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of -339.44 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Equities research analysts anticipate that Oklo will post -8.2 earnings per share for the current year.

Insider Activity

In other news, 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 completion of the transaction, the chief executive officer owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the sale, the chief financial officer directly owned 75,738 shares in the company, valued at $7,098,922.74. This trade represents a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 441,387 shares of company stock worth $28,892,580 over the last three months. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Oklo by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after acquiring an additional 37,718 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after purchasing an additional 1,488,482 shares during the last quarter. State Street Corp raised its stake in shares of Oklo by 454.5% in the second 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 last quarter. Compound Planning Inc. lifted its holdings in shares of Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Finally, Portland Investment Counsel Inc. boosted its position in shares of Oklo by 0.6% during the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after buying an additional 5,000 shares during the last quarter. 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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