UBS Group Cuts Oklo (NYSE:OKLO) Price Target to $60.00

Oklo (NYSE:OKLOFree Report) had its target price reduced by UBS Group from $95.00 to $60.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC dropped their target price on shares of Oklo from $135.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Wedbush reiterated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Citigroup lowered their price objective on shares of Oklo from $95.00 to $73.50 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Texas Capital upgraded Oklo to a “strong-buy” rating in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.30.

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Oklo Stock Performance

OKLO opened at $50.22 on Thursday. Oklo has a 52-week low of $17.42 and a 52-week high of $193.84. The firm has a market cap of $8.72 billion, a P/E ratio of -69.75 and a beta of 0.80. The business’s fifty day moving average is $68.12 and its 200-day moving average is $94.12.

Oklo (NYSE:OKLOGet Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). During the same quarter last year, the business earned ($0.74) earnings per share. On average, research analysts predict that Oklo will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider William Carroll Murphy Goodwin sold 2,820 shares of Oklo stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $56.69, for a total transaction of $159,865.80. Following the sale, the insider directly owned 15,991 shares of the company’s stock, valued at approximately $906,529.79. The trade was a 14.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 72,090 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the transaction, the chief financial officer owned 386,008 shares of the company’s stock, valued at approximately $23,160,480. This represents a 15.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,222,424 shares of company stock worth $100,739,512. Corporate insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OKLO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Oklo by 33.4% during the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock valued at $1,294,179,000 after purchasing an additional 2,901,909 shares in the last quarter. State Street Corp grew its holdings in shares of Oklo by 454.5% during the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Oklo by 61.0% in the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares during the period. Finally, Norges Bank acquired a new position in shares of Oklo in the fourth quarter valued at approximately $73,786,000. 85.03% of the stock is currently owned by institutional investors.

Trending Headlines about Oklo

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Oklo Company Profile

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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.

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Analyst Recommendations for Oklo (NYSE:OKLO)

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