Oklo (NYSE:OKLO) Given New $75.00 Price Target at Wedbush

Oklo (NYSE:OKLO - Get Free Report) had its price objective raised by investment analysts at Wedbush from $55.00 to $75.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's target price suggests a potential upside of 16.60% from the company's previous close.

A number of other research analysts have also commented on the company. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and raised their price target for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. 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. BTIG Research began coverage on Oklo in a research note on Friday, April 11th. They issued a "neutral" rating on the stock. William Blair began coverage on Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Citigroup reissued a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.00.

Oklo Price Performance

Shares of OKLO traded down $3.71 during trading hours on Thursday, reaching $64.32. 37,910,095 shares of the company's stock traded hands, compared to its average volume of 13,570,385. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of -11.89 and a beta of 0.58. Oklo has a twelve month low of $5.35 and a twelve month high of $70.86. The business's fifty day simple moving average is $34.10 and its two-hundred day simple moving average is $31.16.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. On average, equities research analysts expect that Oklo will post -8.2 EPS for the current year.

Insider Buying and Selling

In related news, Director John M. Jansen bought 6,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares of the company's stock, valued at $147,420. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 41,000 shares of Oklo stock in a transaction on Monday, March 31st. The stock was sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the transaction, the chief executive officer now owns 10,852,926 shares in the company, valued at $236,593,786.80. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo during the fourth quarter valued at $27,000. CoreCap Advisors LLC purchased a new position in shares of Oklo during the fourth quarter valued at $32,000. Sandy Spring Bank purchased a new position in shares of Oklo during the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in shares of Oklo during the fourth quarter valued at $34,000. Finally, KBC Group NV purchased a new position in shares of Oklo during the first quarter valued at $36,000. 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.