Oklo (NYSE:OKLO) Upgraded by Bank of America to Buy Rating

Oklo (NYSE:OKLO) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Wednesday,Benzinga reports. The firm presently has a $127.00 price objective on the stock, up from their prior price objective of $111.00. Bank of America‘s price objective indicates a potential upside of 41.57% from the company’s current price.

Several other equities research analysts have also commented on the stock. Barclays set a $146.00 target price on shares of Oklo in a research report on Monday, September 29th. William Blair reissued an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.20.

Oklo Price Performance

Shares of NYSE OKLO opened at $89.71 on Wednesday. The business has a 50-day moving average of $90.86 and a two-hundred day moving average of $95.30. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of -166.13 and a beta of 0.76. Oklo has a 1 year low of $17.42 and a 1 year high of $193.84.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, equities research analysts expect that Oklo will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In related news, insider William Carroll Murphy Goodwin sold 11,936 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $101.84, for a total value of $1,215,562.24. Following the completion of the transaction, the insider owned 8,750 shares in the company, valued at $891,100. This represents a 57.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the transaction, the chief financial officer directly owned 202,072 shares in the company, valued at approximately $15,842,444.80. The trade was a 25.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,552,800 shares of company stock worth $137,543,426. Company insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Black Swift Group LLC purchased a new position in Oklo during the 2nd quarter valued at about $280,000. Prospera Financial Services Inc raised its holdings in shares of Oklo by 10.0% during the 2nd quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock valued at $2,880,000 after purchasing an additional 4,678 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Oklo in the 2nd quarter valued at $738,000. Strs Ohio acquired a new stake in shares of Oklo in the 2nd quarter valued at $1,069,000. Finally, Thoroughbred Financial Services LLC bought a new position in Oklo during the second quarter valued at about $1,833,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.