Cantor Fitzgerald Upgrades Oklo (NYSE:OKLO) to “Overweight”

Oklo (NYSE:OKLO) was upgraded by equities research analysts at Cantor Fitzgerald to an “overweight” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $73.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 12.88% from the stock’s previous close.

OKLO has been the subject of several other reports. Daiwa America upgraded Oklo to a “hold” rating in a report on Friday, July 11th. Craig Hallum cut Oklo from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating on the stock. Wedbush set a $75.00 price objective on Oklo and gave the stock an “outperform” rating in a report on Thursday, June 12th. Finally, CLSA raised Oklo from an “outperform” rating to a “moderate buy” rating and upped their price objective for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.25.

Oklo Stock Up 6.1%

Shares of OKLO stock opened at $64.67 on Tuesday. The stock has a fifty day moving average of $51.38 and a 200 day moving average of $37.54. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of -11.95 and a beta of 0.57. Oklo has a 52 week low of $5.35 and a 52 week high of $73.55.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Equities research analysts anticipate that Oklo will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director owned 250,000 shares of the company’s stock, valued at approximately $15,685,000. This represents a 37.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 600,000 shares of company stock worth $35,066,500 in the last ninety days. 18.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo in the second quarter valued at about $25,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter worth approximately $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo in the fourth quarter worth approximately $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter worth approximately $32,000. Finally, Covestor Ltd purchased a new position in Oklo during the fourth quarter worth approximately $34,000. 85.03% of the stock is currently 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.