Oklo (NYSE:OKLO) Stock Price Expected to Rise, Wedbush Analyst Says

Oklo (NYSE:OKLO) had its price objective raised by Wedbush from $45.00 to $55.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Citigroup reiterated a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. HC Wainwright assumed coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 target price for the company. Finally, BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.40.

Oklo Stock Performance

Shares of Oklo stock opened at $49.11 on Friday. The company has a market capitalization of $6.84 billion, a PE ratio of -9.08 and a beta of -0.02. The company has a 50-day simple moving average of $26.83 and a two-hundred day simple moving average of $28.46. Oklo has a one year low of $5.35 and a one year high of $59.14.

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

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 35,365 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the sale, the chief executive officer now owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Jansen purchased 6,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $147,420. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of large investors have recently bought and sold shares of OKLO. Vanguard Group Inc. boosted its position in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after buying an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Oklo in the fourth quarter valued at approximately $38,661,000. TimesSquare Capital Management LLC purchased a new stake in Oklo in the fourth quarter valued at approximately $17,104,000. JAT Capital Mgmt LP purchased a new stake in Oklo in the fourth quarter valued at approximately $14,798,000. Finally, Millennium Management LLC boosted its position in Oklo by 4,974.1% in the first 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 last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

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.