Oklo (NYSE:OKLO) Price Target Cut to $28.00 by Analysts at Truist Financial

Oklo (NYSE:OKLO) had its price target dropped by analysts at Truist Financial from $31.00 to $28.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial‘s target price would suggest a potential upside of 18.70% from the company’s previous close.

OKLO has been the subject of a number of other reports. Piper Sandler dropped their price target on Oklo from $55.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Oklo in a research report on Monday. Barclays lowered their target price on Oklo from $76.00 to $59.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Canaccord Genuity Group lowered their target price on Oklo from $100.00 to $66.00 and set a “buy” rating for the company in a report on Monday. Finally, TD Cowen assumed coverage on Oklo in a research report on Monday, October 26th. They issued a “hold” rating and a $26.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Oklo has an average rating of “Moderate Buy” and an average target price of $67.67.

Oklo Price Performance

Shares of NYSE:OKLO opened at $23.59 on Friday. Oklo has a one year low of $18.53 and a one year high of $115.72. The company has a market cap of $4.61 billion, a price-to-earnings ratio of -24.72 and a beta of 1.31. The firm has a 50 day simple moving average of $32.43 and a 200 day simple moving average of $51.11.

Oklo (NYSE:OKLO) last posted its earnings results on Friday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $1.86 million for the quarter, compared to the consensus estimate of $1.03 million. During the same period in the previous year, the firm posted ($0.20) EPS. As a group, analysts expect that Oklo will post -0.99 EPS for the current year.

Insider Activity at Oklo

In related news, General Counsel Vivek Narayanadas sold 3,264 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $129,809.28. Following the sale, the general counsel owned 7,822 shares of the company’s stock, valued at $311,080.94. The trade was a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Carroll Murphy Goodwin sold 11,592 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.77, for a total value of $461,013.84. Following the completion of the sale, the insider owned 45,268 shares of the company’s stock, valued at $1,800,308.36. The trade was a 20.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 350,203 shares of company stock valued at $12,424,945 in the last quarter. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in shares of Oklo by 344.6% in the first quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock valued at $2,484,000 after buying an additional 38,829 shares during the period. Bank of America Corp DE raised its position in shares of 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 last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Oklo during the second quarter worth about $2,096,000. Optiver Holding B.V. acquired a new position in shares of Oklo in the first quarter worth approximately $2,414,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Oklo in the second quarter worth approximately $24,532,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo News Summary

Investors following OKLO have been watching these news items:

• Positive Sentiment: The U.S. Department of Energy cleared Oklo’s Groves-1 test reactor for unrestricted operations, allowing research, testing and workforce training to begin. The milestone advances work intended to support future reactor projects. Oklo Advances Groves-1 Reactor Into Research and Testing Phase
• Positive Sentiment: Coverage revisited Oklo’s roughly $3 billion plan to supply power to AI data centers, highlighting potential demand for its nuclear power as data-center electricity needs grow. Throwback to Oklo’s $3 billion plan to power AI data centers
• Negative Sentiment: Craig-Hallum cut its price target to $27 from $53 and maintained a Hold rating, indicating more cautious expectations despite Oklo’s better-than-expected quarterly results. Craig-Hallum Just Cut Its Oklo Target From $53 to $27

Oklo Company Profile

Oklo Inc. develops advanced nuclear fission power plants designed to provide reliable, carbon-free electricity. Its Aurora powerhouse concept uses fast-reactor technology and is designed to operate with metallic fuel, including fuel derived from recycled nuclear material. Oklo is developing its technology and has not yet established a commercial operating fleet. The company plans to supply electricity through long-term power agreements rather than relying solely on equipment sales. Its prospective customers include data centers, industrial facilities, and other users seeking dependable power, with its development efforts focused primarily on the United States.