Oklo Seeing Solid Execution as it Shifts From Design, Wedbush Says

MT Newswires Live11-10

Oklo (OKLO) is shifting from design to execution with its Groves-1 test reactor becoming operational and making progress on construction of its Aurora-ID nuclear power plant, Wedbush said in a note Monday after the company's Q3 results.

Oklo reported a Q3 loss Friday of $0.22 per diluted share, widening from a loss of $0.20 a year earlier.

Analysts surveyed by FactSet expected a loss of $0.27. Revenue was $1.9 million. No revenue was reported a year earlier. Analysts expected $1 million.

Wedbush noted the company is on a "solid path to commercializing its Groves platform with an isotope delivery expected within 12 months."

Meanwhile, the power plant commercialization schedule may see slight delays with Oklo noting expected Aurora-ID start up in 2028-2029 compared with 2028 previously, the note said.

The investment firm noted that with a "nuclear renaissance emerging despite concerns of slowing data center construction, [Oklo] is positioned to capitalize as it derisks its path forward and continues to execute."

Wedbush also said the company has "solid" liquidity with cash and marketable securities at $3.13 billion on Sept. 30, plus $81.9 million of restricted cash, and no debt.

Wedbush reiterated Oklo's outperform rating and a $36 price target.

Price: 26.15, Change: +2.60, Percent Change: +11.04

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