Wedbush Forecasts Strong Price Appreciation for Oklo (NYSE:OKLO) Stock

Oklo (NYSE:OKLO) had its target price hoisted by Wedbush from $75.00 to $80.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also issued reports on OKLO. Daiwa Capital Markets upgraded shares of Oklo from a “neutral” rating to an “outperform” rating in a research report on Sunday, July 27th. Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. BTIG Research restated a “neutral” rating on shares of Oklo in a research report on Tuesday. Citigroup increased their target price on shares of Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Craig Hallum lowered shares of Oklo from a “buy” rating to a “hold” rating and set a $59.00 target price on the stock. in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Oklo presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.78.

Oklo Stock Down 4.7%

Oklo stock opened at $73.75 on Tuesday. The stock has a market cap of $10.89 billion, a P/E ratio of -175.59 and a beta of 0.60. Oklo has a twelve month low of $5.35 and a twelve month high of $85.35. The company’s 50-day moving average price is $64.47 and its two-hundred day moving average price is $44.23.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Equities analysts anticipate that Oklo will post -8.2 earnings per share for the current fiscal year.

Insider Activity at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director owned 200,000 shares in the company, valued at approximately $10,970,000. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 in the last quarter. 18.90% of the stock is currently owned by company insiders.

Institutional Trading of Oklo

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV raised its stake in shares of Oklo by 11.8% during the second quarter. KBC Group NV now owns 1,849 shares of the company’s stock valued at $104,000 after acquiring an additional 195 shares during the last quarter. Fourth Dimension Wealth LLC raised its stake in shares of Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock valued at $25,000 after acquiring an additional 250 shares during the last quarter. MRA Advisory Group raised its stake in shares of Oklo by 2.8% during the second quarter. MRA Advisory Group now owns 9,770 shares of the company’s stock valued at $547,000 after acquiring an additional 266 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of Oklo by 82.9% during the second quarter. Rothschild Investment LLC now owns 640 shares of the company’s stock valued at $36,000 after acquiring an additional 290 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Oklo by 107.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company’s stock valued at $33,000 after acquiring an additional 305 shares during the last quarter. Institutional investors and hedge funds 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.