Oklo (NYSE:OKLO) Stock Rating Lowered by Craig Hallum

Craig Hallum downgraded shares of Oklo (NYSE:OKLO) from a buy rating to a hold rating in a report published on Monday, Marketbeat Ratings reports. They currently have $59.00 price objective on the stock.

OKLO has been the topic of a number of other reports. Citigroup reissued a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. William Blair initiated coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an “outperform” rating for the company. Wedbush set a $75.00 price objective on shares of Oklo and gave the stock an “outperform” rating in a report on Thursday, June 12th. Seaport Res Ptn upgraded shares of Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Finally, CLSA upgraded shares of Oklo from an “outperform” rating to a “moderate buy” rating and upped their price target for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.50.

Oklo Stock Down 8.5%

NYSE OKLO opened at $55.53 on Monday. The stock has a market capitalization of $7.75 billion, a PE ratio of -10.26 and a beta of 0.58. Oklo has a 12-month low of $5.35 and a 12-month high of $73.55. The company has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $33.87.

Oklo (NYSE:OKLO) last issued 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. As a group, equities analysts anticipate that Oklo will post -8.2 EPS for the current year.

Insider Activity at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the transaction, the director now directly owns 200,000 shares in the company, valued at approximately $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 41,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total transaction of $893,800.00. Following the completion of the sale, the chief executive officer now directly owns 10,852,926 shares in the company, valued at $236,593,786.80. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 341,000 shares of company stock worth $19,400,300. Company insiders own 18.90% of the company’s stock.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. bought a new stake in Oklo in the fourth quarter valued at $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo in the 4th quarter valued at $32,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the 4th quarter worth about $32,000. Covestor Ltd acquired a new stake in shares of Oklo during the 4th quarter worth about $34,000. Finally, KBC Group NV bought a new position in Oklo during the 1st quarter valued at about $36,000. Institutional investors own 85.03% of the company’s stock.

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.