Shares of Oklo Inc. (NYSE:OKLO – Get Free Report) reached a new 52-week low during mid-day trading on Monday. The company traded as low as $25.69 and last traded at $25.65, with a volume of 716,225 shares. The stock had previously closed at $26.35.
Wall Street Analysts Forecast Growth
OKLO has been the subject of several research reports. Barclays reduced their price objective on Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. TD Cowen started coverage on shares of Oklo in a research report on Monday. They issued a “hold” rating and a $26.00 price objective on the stock. Canaccord Genuity Group cut their price target on shares of Oklo from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 price target on shares of Oklo in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average target price of $75.56.
Get Our Latest Stock Report on OKLO
Oklo Trading Up 0.2%
The stock’s 50-day moving average is $37.11 and its 200-day moving average is $49.66. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -27.87 and a beta of 1.20.
Oklo (NYSE:OKLO – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter last year, the company earned ($0.18) earnings per share. Oklo’s revenue was up 11900.0% on a year-over-year basis. As a group, analysts predict that Oklo Inc. will post -1.00 EPS for the current year.
Insider Transactions at Oklo
In other news, insider Alexandra Renner sold 1,100 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $37.39, for a total value of $41,129.00. Following the completion of the sale, the insider owned 477,595 shares of the company’s stock, valued at approximately $17,857,277.05. This represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob DeWitte sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $36.19, for a total value of $1,447,600.00. Following the transaction, the chief executive officer directly owned 391,533 shares in the company, valued at $14,169,579.27. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 291,374 shares of company stock worth $10,955,825. Corporate insiders own 12.70% of the company’s stock.
Institutional Investors Weigh In On Oklo
A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Oklo during the 2nd quarter worth $24,532,000. Bank of America Corp DE grew its holdings in Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after acquiring an additional 220,976 shares during the period. Hsbc Holdings PLC boosted its position in shares of Oklo by 1,184.4% during the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock worth $8,063,000 after purchasing an additional 103,623 shares in the last quarter. Amundi grew its stake in shares of Oklo by 59.0% during the 1st quarter. Amundi now owns 164,824 shares of the company’s stock worth $8,174,000 after purchasing an additional 61,161 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in shares of Oklo by 9,924.3% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 60,146 shares of the company’s stock valued at $2,983,000 after purchasing an additional 59,546 shares during the period. Institutional investors own 85.03% of the company’s stock.
About Oklo
Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.
The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.
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