HC Wainwright Reiterates “Buy” Rating for Oklo (NYSE:OKLO)

Oklo (NYSE:OKLO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $90.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 86.03% from the stock’s current price.

Several other analysts have also recently commented on the stock. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Oklo in a research note on Tuesday, May 26th. HSBC began coverage on shares of Oklo in a report on Thursday, April 23rd. They set a “buy” rating and a $96.00 target price for the company. Barclays decreased their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a report on Friday, May 22nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.44.

Oklo Stock Down 0.1%

Shares of NYSE:OKLO opened at $48.38 on Monday. Oklo has a 52-week low of $36.61 and a 52-week high of $193.84. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -51.47 and a beta of 1.17. The business has a 50-day moving average price of $50.88 and a 200-day moving average price of $60.34.

Oklo (NYSE:OKLO) last issued its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. During the same quarter in the prior year, the company posted ($0.18) EPS. The firm’s revenue was up 11900.0% compared to the same quarter last year. As a group, equities analysts anticipate that Oklo will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the firm’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer directly owned 511,533 shares of the company’s stock, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 483,629 shares of company stock worth $29,855,608. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after acquiring an additional 44,036 shares during the period. Van ECK Associates Corp grew its position in shares of Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after acquiring an additional 481,288 shares during the period. State Street Corp grew its position in shares of Oklo by 23.6% during the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after acquiring an additional 584,184 shares during the period. Geode Capital Management LLC increased its stake in shares of Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after purchasing an additional 185,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Oklo by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after purchasing an additional 90,213 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.