Oklo (NYSE:OKLO) Shares Down 2.4% on Analyst Downgrade

Oklo Inc. (NYSE:OKLO) dropped 2.4% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $31.00 to $28.00. Truist Financial currently has a hold rating on the stock. Oklo traded as low as $22.85 and last traded at $23.87. Approximately 6,492,319 shares traded hands during trading, a decline of 42% from the average daily volume of 11,118,266 shares. The stock had previously closed at $24.45.

Other equities research analysts have also recently issued reports about the company. Piper Sandler dropped their target price on Oklo from $55.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Canaccord Genuity Group reduced their target price on shares of Oklo from $100.00 to $66.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oklo in a research report on Wednesday, November 4th. B. Riley Financial decreased their target price on shares of Oklo from $92.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Finally, TD Cowen started coverage on Oklo in a report on Monday, October 26th. They set a “hold” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

Insider Buying and Selling

In other news, CFO Richard Bealmear sold 16,727 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $25.55, for a total transaction of $427,374.85. Following the sale, the chief financial officer owned 467,261 shares of the company’s stock, valued at approximately $11,938,518.55. This trade represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Vivek Narayanadas sold 1,021 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $26.50, for a total transaction of $27,056.50. Following the sale, the general counsel directly owned 10,669 shares in the company, valued at approximately $282,728.50. The trade was a 8.73% 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 90 days, insiders sold 350,203 shares of company stock worth $12,424,945. Corporate insiders own 12.70% of the company’s stock.

Recent Oklo Headlines

Investors following OKLO have been watching these headlines:

• Positive Sentiment: Oklo signed multi-year HALEU fuel supply contracts with Centrus Energy for its planned Ohio deployment. The agreements include prepayments intended to help support new U.S. uranium-enrichment capacity, addressing an important fuel-supply need for the project. Article: Oklo, Centrus Secure Fuel Supply for Aurora Powerhouse Deployment in Ohio
• Negative Sentiment: Truist cut its price target to $28 from $31 and maintained a Hold rating. Although the new target is above the referenced share price, the reduction signals more cautious expectations. Source: MarketBeat analyst recommendations
• Negative Sentiment: A recent analysis highlighted a potential $6.3 billion funding gap, underscoring the scale of capital Oklo may need to finance its plans. That concern could temper enthusiasm about operational milestones, even as the company’s quarterly results beat estimates. Article: Oklo Faces a $6.3 Billion Funding Gap

Institutional Trading of Oklo

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Oklo by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company’s stock worth $3,493,000 after buying an additional 183 shares during the period. Choreo LLC boosted its stake in shares of Oklo by 4.1% in the third quarter. Choreo LLC now owns 10,478 shares of the company’s stock valued at $388,000 after buying an additional 412 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Oklo by 6.6% during the 2nd quarter. IFP Advisors Inc now owns 7,143 shares of the company’s stock worth $374,000 after purchasing an additional 441 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in Oklo by 8.8% during the first quarter. Diversify Wealth Management LLC now owns 5,885 shares of the company’s stock worth $292,000 after buying an additional 475 shares in the last quarter. Finally, Palumbo Wealth Management LLC grew its holdings in shares of Oklo by 5.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 9,549 shares of the company’s stock worth $354,000 after acquiring an additional 512 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Price Performance

The business has a 50-day moving average price of $32.43 and a two-hundred day moving average price of $51.11. The firm has a market cap of $4.66 billion, a PE ratio of -24.86 and a beta of 1.31.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $1.86 million during the quarter, compared to analysts’ expectations of $1.03 million. During the same period last year, the company earned ($0.20) EPS. Equities analysts expect that Oklo Inc. will post -0.99 earnings per share for the current fiscal year.

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.