Canaccord Genuity Group Has Lowered Expectations for Oklo (NYSE:OKLO) Stock Price

Oklo (NYSE:OKLO) had its target price decreased by research analysts at Canaccord Genuity Group from $125.00 to $100.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 106.70% from the company’s current price.

Several other research analysts also recently issued reports on OKLO. Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Wedbush reissued an “outperform” rating and set a $110.00 target price on shares of Oklo in a research report on Tuesday, May 26th. Bank of America began coverage on shares of Oklo in a research report on Friday, May 22nd. They set a “buy” rating and a $80.00 price target on the stock. HSBC started coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price objective for the company. Finally, UBS Group reduced their target price on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.44.

Oklo Stock Performance

NYSE:OKLO opened at $48.38 on Monday. The company has a market cap of $8.42 billion, a price-to-earnings ratio of -51.47 and a beta of 1.17. Oklo has a fifty-two week low of $36.61 and a fifty-two week high of $193.84. The stock has a fifty day moving average price of $50.88 and a 200-day moving average price of $60.34.

Oklo (NYSE:OKLO) last announced 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 firm earned ($0.18) EPS. The firm’s quarterly revenue was up 11900.0% on a year-over-year basis. Research analysts predict that Oklo will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the transaction, the chief executive officer owned 538,039 shares of the company’s stock, valued at $36,742,683.31. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This trade 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. In the last quarter, insiders sold 483,629 shares of company stock worth $29,855,608. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. raised its holdings in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Costello Asset Management INC boosted its holdings in Oklo by 66.7% during the first quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Gilpin Wealth Management LLC purchased a new position in Oklo during the fourth quarter worth about $29,000. SHP Wealth Management bought a new stake in Oklo in the 4th quarter worth about $32,000. Finally, Ascentis Independent Advisors bought a new stake in Oklo in the 1st quarter worth about $33,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

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.