Wedbush Increases Oklo (NYSE:OKLO) Price Target to $80.00

Key Points

• Wedbush has raised its target price for Oklo (NYSE:OKLO) from $75.00 to $80.00, indicating a potential upside of 10.63% from its previous close.
• Oklo's stock received various upgrades from analysts, with an average target price now sitting at $63.78 and a consensus rating of "Moderate Buy."
• Insider trading activity has seen significant sales, including CEO Jacob Dewitte selling 300,000 shares, reducing his stake in the company by 2.88%.

Oklo (NYSE:OKLO - Get Free Report) had its price target boosted by research analysts at Wedbush from $75.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target points to a potential upside of 8.48% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price target for the company. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday. Finally, Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.78.

Oklo Stock Performance

Shares of NYSE OKLO traded down $3.67 during trading hours on Tuesday, hitting $73.75. 12,070,402 shares of the stock were exchanged, compared to its average volume of 18,271,186. Oklo has a 1-year low of $5.35 and a 1-year high of $85.35. The company has a market cap of $10.89 billion, a PE ratio of -175.59 and a beta of 0.60. The company's fifty day simple moving average is $63.94 and its two-hundred day simple moving average is $43.94.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, sell-side analysts expect that Oklo will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated 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 transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of Oklo stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director owned 250,000 shares of the company's stock, valued at $15,685,000. This represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock valued at $35,066,500 over the last quarter. Corporate insiders own 18.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Oklo by 11.8% during the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after purchasing an additional 195 shares during the last quarter. Fourth Dimension Wealth LLC raised its position in shares of Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares during the period. MRA Advisory Group raised its position in shares of Oklo by 2.8% in the second quarter. MRA Advisory Group now owns 9,770 shares of the company's stock valued at $547,000 after purchasing an additional 266 shares during the period. Rothschild Investment LLC increased its holdings in Oklo by 82.9% during the 2nd quarter. Rothschild Investment LLC now owns 640 shares of the company's stock worth $36,000 after acquiring an additional 290 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in Oklo by 107.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after acquiring an additional 305 shares during the period. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.