Wedbush Reiterates “Outperform” Rating for Oklo (NYSE:OKLO)

Oklo (NYSE:OKLO)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $150.00 price target on the stock. Wedbush’s price target indicates a potential upside of 47.46% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. HC Wainwright lifted their target price on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. William Blair restated an “outperform” rating on shares of Oklo in a research report on Wednesday. UBS Group set a $175.00 price objective on shares of Oklo in a research report on Thursday, October 9th. BNP Paribas raised shares of Oklo to a “strong sell” rating in a research note on Friday, July 25th. Finally, Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an “overweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Oklo has an average rating of “Hold” and an average price target of $106.29.

Oklo Stock Down 8.5%

Oklo stock opened at $101.72 on Wednesday. The company’s 50-day moving average price is $122.45 and its 200-day moving average price is $79.96. Oklo has a twelve month low of $17.14 and a twelve month high of $193.84. The company has a market cap of $15.01 billion, a PE ratio of -188.37 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, November 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, sell-side analysts expect that Oklo will post -8.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the company’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 491,387 shares of company stock valued at $52,698,580 in the last three months. 18.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently modified their holdings of the stock. Plancorp LLC raised its position in shares of Oklo by 1.2% in the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after acquiring an additional 73 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Oklo by 3.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after purchasing an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in Oklo by 1.5% in the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after purchasing an additional 101 shares during the last quarter. Rossby Financial LCC raised its holdings in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its position in shares of Oklo by 3.4% during the third quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $522,000 after buying an additional 154 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.