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

Oklo (NYSE:OKLO - Get Free Report) had its price target hoisted by stock analysts at Citigroup from $30.00 to $68.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential upside of 13.96% from the stock's previous close.

Several other brokerages also recently issued reports on OKLO. Cantor Fitzgerald assumed coverage on Oklo in a research note on Tuesday, July 15th. They set an "overweight" rating and a $73.00 target price on the stock. William Blair began coverage on Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. HC Wainwright began coverage on Oklo in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective on the stock. Daiwa America raised Oklo to a "hold" rating in a research note on Friday, July 11th. Finally, Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research note on Monday, June 23rd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Oklo presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Oklo Price Performance

OKLO stock traded down $2.84 during midday trading on Tuesday, hitting $59.67. The stock had a trading volume of 9,910,994 shares, compared to its average volume of 15,038,067. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of -11.01 and a beta of 0.57. The business has a 50-day moving average of $53.01 and a two-hundred day moving average of $38.40. Oklo has a 52-week low of $5.35 and a 52-week high of $73.55.

Oklo (NYSE:OKLO - Get Free Report) last released 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. Research analysts predict that Oklo will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

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

Institutional Trading of Oklo

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Oklo by 92.8% during the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock valued at $92,216,000 after acquiring an additional 2,090,154 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Oklo during the 4th quarter worth approximately $2,209,000. Alliancebernstein L.P. purchased a new position in shares of Oklo during the 4th quarter worth approximately $1,693,000. LPL Financial LLC purchased a new position in shares of Oklo during the 4th quarter worth approximately $2,762,000. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Oklo during the 1st quarter worth approximately $229,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Company Profile

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.

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