Oklo (NYSE:OKLO) Stock Price Down 2.4% After Analyst Downgrade

Key Points

• Oklo shares fell 2.4% after Truist cut its price target from $31 to $28 and maintained a Hold rating; the stock last traded at $23.87.
• Analysts have recently lowered several price targets, though MarketBeat’s consensus remains Moderate Buy, with an average target of $67.67.
• Oklo beat quarterly estimates, reporting an adjusted loss of $0.22 per share and revenue of $1.86 million. Company insiders sold about 350,000 shares worth $12.4 million over the past 90 days.

Shares of Oklo Inc. (NYSE:OKLO - Get Free Report) traded down 2.4% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $31.00 to $28.00. Truist Financial currently has a hold rating on the stock. Oklo traded as low as $22.85 and last traded at $23.87. Approximately 6,492,319 shares traded hands during trading, a decline of 42% from the average daily volume of 11,118,266 shares. The stock had previously closed at $24.45.

A number of other analysts have also weighed in on OKLO. Canaccord Genuity Group dropped their target price on shares of Oklo from $100.00 to $66.00 and set a "buy" rating for the company in a report on Monday. Barclays reduced their target price on shares of Oklo from $76.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 20th. Citigroup cut their price target on Oklo from $57.50 to $33.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 21st. Piper Sandler reduced their price objective on shares of Oklo from $55.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Finally, TD Cowen assumed coverage on Oklo in a report on Monday, October 26th. They issued a "hold" rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $67.67.

Insiders Place Their Bets

In other news, CEO Jacob DeWitte sold 80,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $38.69, for a total transaction of $3,095,200.00. Following the completion of the transaction, the chief executive officer owned 398,039 shares in the company, valued at $15,400,128.91. This trade represents a 16.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Vivek Narayanadas sold 3,264 shares of Oklo stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.77, for a total value of $129,809.28. Following the completion of the sale, the general counsel directly owned 7,822 shares in the company, valued at approximately $311,080.94. The trade was a 29.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 350,203 shares of company stock worth $12,424,945 over the last ninety days. 12.70% of the stock is owned by company insiders.

Trending Headlines about Oklo

Here are a few of the latest headlines about OKLO:

• Positive Sentiment: The U.S. Department of Energy cleared Oklo’s Groves-1 reactor for unrestricted operations in a research and testing phase. The work is expected to support testing, workforce training and research for future projects. Article: Oklo Advances Groves-1 Reactor Into Research and Testing Phase
• Positive Sentiment: Oklo signed multi-year HALEU fuel supply contracts with Centrus Energy for its planned Ohio deployment. The agreements include prepayments intended to help support new U.S. uranium-enrichment capacity, addressing an important fuel-supply need for the project. Article: Oklo, Centrus Secure Fuel Supply for Aurora Powerhouse Deployment in Ohio
• Negative Sentiment: A recent analysis highlighted a potential $6.3 billion funding gap, underscoring the scale of capital Oklo may need to finance its plans. That concern could temper enthusiasm about operational milestones, even as the company’s quarterly results beat estimates. Article: Oklo Faces a $6.3 Billion Funding Gap

Institutional Trading of Oklo

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock worth $30,760,000 after acquiring an additional 220,976 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Oklo by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company's stock worth $25,632,000 after purchasing an additional 5,945 shares during the last quarter. Swiss National Bank lifted its position in shares of Oklo by 7.1% during the first quarter. Swiss National Bank now owns 324,900 shares of the company's stock valued at $16,112,000 after buying an additional 21,400 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Oklo by 48.5% in the third quarter. Russell Investments Group Ltd. now owns 371,761 shares of the company's stock valued at $13,763,000 after acquiring an additional 121,438 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Oklo during the 3rd quarter worth $11,483,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Stock Down 2.4%

The firm has a market cap of $4.66 billion, a PE ratio of -24.86 and a beta of 1.31. The stock has a 50 day moving average price of $32.43 and a two-hundred day moving average price of $51.11.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.05. The company had revenue of $1.86 million during the quarter, compared to analysts' expectations of $1.03 million. During the same period in the prior year, the business posted ($0.20) EPS. As a group, equities analysts anticipate that Oklo Inc. will post -0.99 earnings per share for the current year.

Oklo Company Profile

Oklo Inc. develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet. The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.

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