$Oklo Inc.(OKLO)$ ☢️📈🔺🅱️🆄🅻🅻🅸🆂🅷
☢️🎯📈 OKLO: On the Path 🛤️ to $38 Mid 2025! 📈🎯☢️
Kia ora Tiger traders!
$OKLO (22Nov24, 🇳🇿NZ Time) is trading at $24.90 in the overnight market, with pattern analysis projecting a potential move to $38 by mid-2025. The chart highlights a solid upward trajectory, supported by strong trendlines and a robust ascending structure. Momentum looks steady, setting the stage for long-term gains as this pattern unfolds.
📰 Sam Altman-Backed Oklo Slumps After Kerrisdale Says It’s Shorting Stock.
SOURCE: Bloomberg -- Shares of Oklo Inc., the nuclear fission reactor company backed by OpenAI Inc’s Sam Altman, tumbled Wednesday after Kerrisdale Capital said it is shorting the stock.
The report alleges that “virtually every aspect of Oklo’s investment case warrants skepticism,” sending the stock down as much as 10%. Shares pared much of the decline and were down about 6% in midday trading in New York.
Oklo shares have whip-sawed recently, rallying more than 20% this week through Tuesday’s close after falling 25% on Friday following its earnings release and the expiration of a lockup period that allows key investors like Peter Thiel’s venture capital firm to start selling shares.
Oklo declined to comment.
Since the company went public via a special purpose acquisition merger in May, its shares have soared more than 150%.
“In classic SPAC fashion, Oklo has sold the market on inflated unit economics while grossly underestimating the time and capital it will take to commercialize its product,” the Kerrisdale report said.
The company is among a wave of firms developing so-called small modular reactors that are expected to be built in factories and assembled on site. Advocates say the approach will make it faster and cheaper to build nuclear power plants, but the technology is unproven. Only a handful have been developed, and only in Russia and China.
Oklo has said it expects its first system to go into service in 2027, but the Kerrisdale report highlights numerous technical and regulatory hurdles that may delay that schedule. Oklo is pursuing a new technology that it said will make its design safer and cheaper than conventional reactors in use today. The company’s design doesn’t have approval from the US Nuclear Regulatory Commission, a process that typically takes years.
Wall Street is split on the company thus far. Of the four analysts covering Oklo, two have buy-equivalent ratings and two are neutral. The average price target implies about 5% return from where shares are trading.
Besides Altman and Thiel, the company has another potentially high-profile connection. Board member Chris Wright was nominated by President-elect Donald Trump to lead the Energy Department last week.
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Oklo Inc. (OKLO) Analysis
Business Overview
Oklo Inc. is a nuclear fission reactor company, backed by Sam Altman of OpenAI Inc. The company is pursuing a new technology that aims to make its reactor design safer and cheaper than conventional reactors. Oklo expects its first system to go into service in 2027.
Earnings and Forecast
Oklo's latest earnings report for Q3 2024 showed an EPS of -0.08. The company experienced negative returns on investment and net profit margin. However, specific figures for gross profit margin, total asset turnover, and inventory turnover were not available.
Analysts have provided earnings forecasts for Oklo. For the fiscal year 2025, the forecasted EPS is -0.35 USD, and the forecasted EBIT is -52.11 million USD.
The average cost of Oklo's stock on November 21, 2024, was 17.2 USD.
Support and Resistance Price
On November 21, 2024, the support price was 12.35 USD, while the resistance price was 25.25 USD.
As of November 22, 2024, Oklo's stock is trading at 25.23 USD.
Analyst Recommendations
Oklo is currently covered by four analysts. Two analysts have buy-equivalent ratings, while two analysts have neutral ratings.
The average price target suggested by analysts implies a 5% return from the current trading price.
Recent News and Developments
Oklo's stock experienced a decline after Kerrisdale Capital announced that it was shorting the stock. Kerrisdale's report raised skepticism about Oklo's investment case, causing the stock to fall by as much as 10%. However, the stock partially recovered and was down 6% in midday trading on November 22, 2024.
Oklo's stock price has been volatile recently, with a rally of over 20% earlier in the week but a decline of 25% following an earnings release and the expiration of a lockup period.
Atomic Alchemy, a company that Oklo plans to acquire, has signed a memorandum of understanding with Zeno Power Systems to provide radioisotopes for commercial radioisotope power systems. This development may represent a significant milestone for Atomic Alchemy's expansion into markets such as defense and energy. The specific financial terms of the agreement were not disclosed.
Risk Disclaimer
The above analysis is for informational purposes only and should not be considered as investment advice. Investing in stocks involves inherent risks, and stock prices can fluctuate. It is essential to conduct independent research and analysis, consider your risk tolerance, and consult with a qualified financial advisor before making any investment decisions.
Note: The stock price and other financial figures mentioned in this response are based on information available on November 22, 2024.
(Source: Bloomberg, TTM Financial, Reuters)
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