Oklo (NYSE:OKLO) Cut to “Hold” at Craig Hallum

Craig Hallum downgraded shares of Oklo (NYSE:OKLO) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat.com reports. The brokerage currently has $59.00 price target on the stock.

A number of other analysts have also recently weighed in on OKLO. HC Wainwright initiated coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 price objective on the stock. Citigroup restated a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Wedbush set a $75.00 price target on shares of Oklo and gave the company an “outperform” rating in a research note on Thursday, June 12th. CLSA upgraded Oklo from an “outperform” rating to a “moderate buy” rating and boosted their price objective for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Finally, BTIG Research began coverage on Oklo in a report on Friday, April 11th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Oklo Stock Down 8.5%

Shares of NYSE:OKLO opened at $55.53 on Monday. The company has a market cap of $7.75 billion, a PE ratio of -10.26 and a beta of 0.58. Oklo has a fifty-two week low of $5.35 and a fifty-two week high of $73.55. The firm has a 50-day simple moving average of $41.85 and a 200 day simple moving average of $33.87.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. As a group, research analysts forecast that Oklo will post -8.2 EPS for the current fiscal year.

Insider Activity

In other Oklo news, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the transaction, the chief executive officer now owns 10,852,926 shares in the company, valued at approximately $236,593,786.80. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the transaction, the director now owns 200,000 shares in the company, valued at $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 341,000 shares of company stock worth $19,400,300 over the last 90 days. 18.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently bought and sold shares of OKLO. Vanguard Group Inc. lifted its position in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. JAT Capital Mgmt LP purchased a new stake in Oklo in the 4th quarter worth approximately $14,798,000. Millennium Management LLC boosted its stake in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after buying an additional 570,532 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Oklo during the 1st quarter valued at $11,674,000. Finally, ARK Investment Management LLC purchased a new position in shares of Oklo during the 4th quarter valued at $9,645,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.