Bank of America Issues Pessimistic Forecast for Oklo (NYSE:OKLO) Stock Price

Oklo (NYSE:OKLO) had its price objective reduced by equities research analysts at Bank of America from $117.00 to $111.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 9.12% from the company’s current price.

Other analysts have also issued research reports about the stock. BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They issued an “underperform” rating and a $14.00 price target for the company. Cantor Fitzgerald set a $73.00 target price on Oklo and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Daiwa America upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Finally, Barclays set a $146.00 price target on Oklo in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.29.

Oklo Stock Down 8.5%

Oklo stock opened at $101.72 on Wednesday. The stock has a 50-day simple moving average of $122.45 and a 200 day simple moving average of $79.96. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of -188.37 and a beta of 0.70. Oklo has a 12-month low of $17.14 and a 12-month high of $193.84.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, November 11th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the previous year, the business posted ($0.08) EPS. As a group, sell-side analysts anticipate that Oklo will post -8.2 EPS for the current year.

Insider Buying and Selling

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Stuart Klein sold 50,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the transaction, the director owned 150,000 shares in the company, valued at $20,064,000. This represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 491,387 shares of company stock worth $52,698,580. Company insiders own 18.90% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Oklo in the first quarter valued at about $358,000. CWM LLC lifted its holdings in shares of Oklo by 1,409.1% during the 1st quarter. CWM LLC now owns 4,980 shares of the company’s stock valued at $108,000 after purchasing an additional 4,650 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Oklo by 5.4% during the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company’s stock valued at $194,000 after purchasing an additional 462 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Oklo by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 46,432 shares of the company’s stock valued at $1,004,000 after purchasing an additional 13,108 shares during the period. Finally, Larson Financial Group LLC increased its stake in Oklo by 122.0% during the 1st quarter. Larson Financial Group LLC now owns 2,220 shares of the company’s stock worth $48,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors and hedge funds 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.