The Goldman Sachs Group Initiates Coverage on Oklo (NYSE:OKLO)

Key Points

• Goldman Sachs has initiated coverage on Oklo (NYSE:OKLO) with a "neutral" rating and a price target of $117.00, indicating a potential downside of 10.75% from its previous close.
• Oklo recently missed earnings estimates, reporting a loss of ($0.18) per share compared to the expected ($0.12) for the quarter.
• Insider trading activity saw the CEO and a director sell significant shares of Oklo, suggesting a 2.88% and 25.00% decrease in their ownership, respectively.

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Oklo (NYSE:OKLO - Get Free Report) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set a "neutral" rating and a $117.00 price target on the stock. The Goldman Sachs Group's price target would indicate a potential downside of 10.75% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. Seaport Res Ptn lowered shares of Oklo from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Wedbush lifted their target price on shares of Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday. Citigroup boosted their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, HC Wainwright boosted their price objective on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Oklo presently has an average rating of "Hold" and an average target price of $76.50.

Oklo Trading Down 8.1%

OKLO stock opened at $131.09 on Thursday. The firm's 50-day moving average price is $80.14 and its two-hundred day moving average price is $52.89. Oklo has a 12-month low of $7.90 and a 12-month high of $144.49. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of -312.10 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last released 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 analysts predict that Oklo will post -8.2 EPS for the current year.

Insider Activity

In other news, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the business'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 transaction of $6,688,000.00. Following the transaction, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,387 shares of company stock worth $35,580,580. Corporate insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OKLO. Caldwell Sutter Capital Inc. purchased a new position in shares of Oklo during the second quarter valued at approximately $25,000. Private Trust Co. NA purchased a new position in shares of Oklo during the second quarter valued at approximately $25,000. Fourth Dimension Wealth LLC increased its holdings in Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after buying an additional 250 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Oklo during the second quarter valued at approximately $28,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in Oklo by 107.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after buying an additional 305 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

About Oklo

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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