Oklo (NYSE:OKLO) Receives Sell (D) Rating from Weiss Ratings

Key Points

• Oklo's stock receives a sell (D) rating from Weiss Ratings, with the consensus rating across analysts being a "Hold" and a price target of $98.14.
• Despite the sell rating, some firms, such as Wedbush and HC Wainwright, have upgraded their price targets significantly, with projections ranging from $90.00 to $150.00.
• Insider activity has seen significant sales, with CEO Jacob Dewitte selling 300,000 shares for approximately $33.68 million, indicating a potential shift in investor sentiment.

Oklo (NYSE:OKLO - Get Free Report)'s stock had its "sell (d)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on OKLO. BNP Paribas Exane began coverage on shares of Oklo in a research report on Friday, July 25th. They set an "underperform" rating and a $14.00 price target on the stock. Seaport Res Ptn cut shares of Oklo from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Wedbush boosted their price target on shares of Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. HC Wainwright boosted their price target on shares of Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $98.14.

Oklo Stock Performance

Shares of NYSE OKLO traded up $4.79 during midday trading on Wednesday, hitting $139.56. 2,798,802 shares of the company traded hands, compared to its average volume of 18,443,354. Oklo has a 12-month low of $9.01 and a 12-month high of $147.18. The stock has a 50-day moving average price of $90.87 and a 200 day moving average price of $59.59. The firm has a market cap of $20.60 billion, a P/E ratio of -332.27 and a beta of 0.69.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, equities analysts expect that Oklo will post -8.2 earnings per share for the current year.

Insider Activity

In other news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director owned 150,000 shares in the company, valued at approximately $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was 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 in the company, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,387 shares of company stock worth $52,698,580. Corporate insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new position in Oklo during the third quarter valued at approximately $493,000. Armstrong Advisory Group Inc. bought a new position in Oklo during the third quarter valued at approximately $27,000. Acropolis Investment Management LLC lifted its position in Oklo by 58.5% during the third quarter. Acropolis Investment Management LLC now owns 5,757 shares of the company's stock valued at $643,000 after purchasing an additional 2,125 shares during the period. Salem Investment Counselors Inc. lifted its position in Oklo by 114.3% during the third quarter. Salem Investment Counselors Inc. now owns 750 shares of the company's stock valued at $84,000 after purchasing an additional 400 shares during the period. Finally, AssuredPartners Investment Advisors LLC bought a new position in Oklo during the third quarter valued at approximately $232,000. 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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