B. Riley Boosts Oklo (NYSE:OKLO) Price Target to $129.00

Oklo (NYSE:OKLO) had its target price boosted by equities researchers at B. Riley from $58.00 to $129.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 16.48% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Daiwa Capital Markets upgraded Oklo from a “neutral” rating to an “outperform” rating in a research note on Sunday, July 27th. Bank of America reduced their price objective on Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research note on Wednesday. BNP Paribas Exane started coverage on Oklo in a research note on Friday, July 25th. They set an “underperform” rating and a $14.00 target price on the stock. The Goldman Sachs Group initiated coverage on Oklo in a report on Thursday, September 25th. They set a “neutral” rating and a $117.00 price objective for the company. Finally, Zacks Research cut Oklo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. 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 given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $106.29.

Oklo Stock Up 6.3%

OKLO traded up $6.53 during midday trading on Wednesday, hitting $110.75. The company had a trading volume of 10,516,313 shares, compared to its average volume of 18,578,809. The stock’s 50 day moving average price is $121.03 and its 200 day moving average price is $79.59. Oklo has a 52 week low of $17.14 and a 52 week high of $193.84. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of -263.48 and a beta of 0.70.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, November 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period last year, the company posted ($0.08) earnings per share. Research analysts predict that Oklo will post -8.2 EPS for the current year.

Insider Activity

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total value of $33,678,000.00. Following the completion of the sale, the chief executive officer directly 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 491,387 shares of company stock valued at $52,698,580. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently bought and sold shares of OKLO. Vanguard Group Inc. grew its position in Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after acquiring an additional 2,901,909 shares in the last quarter. State Street Corp grew its holdings in shares of Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock worth $125,906,000 after buying an additional 1,488,482 shares during the period. Hood River Capital Management LLC bought a new stake in Oklo in the second quarter valued at approximately $40,919,000. Finally, Millennium Management LLC increased its stake in shares of Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after buying an additional 570,532 shares during the period. 85.03% of the stock is currently owned by 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.