Brokerages Set Oklo Inc. (NYSE:OKLO) Price Target at $84.00

Shares of Oklo Inc. (NYSE:OKLO) have earned an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $84.00.

OKLO has been the subject of several recent research reports. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research report on Friday, May 22nd. UBS Group decreased their price objective on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Tigress Financial assumed coverage on Oklo in a report on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Oklo in a report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th.

Oklo Price Performance

Shares of NYSE:OKLO opened at $41.20 on Friday. Oklo has a one year low of $39.53 and a one year high of $193.84. The company has a 50 day moving average of $58.20 and a 200-day moving average of $65.43. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -49.05 and a beta of 1.14.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter last year, the business earned ($0.07) earnings per share. Equities research analysts anticipate that Oklo will post -0.74 earnings per share for the current year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the transaction, the insider owned 36,175 shares of the company’s stock, valued at $2,099,597. This trade represents a 22.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Craig Bealmear sold 73,081 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at approximately $27,206,665.64. This represents a 15.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 683,629 shares of company stock valued at $43,902,208 in the last ninety days. 18.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Oklo

Large investors have recently bought and sold shares of the company. DNB Asset Management AS grew its position in shares of Oklo by 151.7% in the 4th quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock valued at $2,054,000 after purchasing an additional 17,253 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Oklo by 109.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock worth $24,774,000 after buying an additional 180,377 shares during the period. Prakash Investment Advisors LLC acquired a new stake in Oklo during the 4th quarter worth approximately $1,246,000. M&T Bank Corp lifted its stake in Oklo by 740.6% in the fourth quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after buying an additional 19,945 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Oklo by 23.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 259,726 shares of the company’s stock valued at $18,638,000 after buying an additional 48,953 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.