HC Wainwright Issues Positive Forecast for Oklo (NYSE:OKLO) Stock Price

Oklo (NYSE:OKLO) had its target price hoisted by HC Wainwright from $55.00 to $90.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on OKLO. Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Daiwa America upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 27th. Daiwa Capital Markets upgraded Oklo from a “neutral” rating to an “outperform” rating in a research note on Sunday, July 27th. BNP Paribas upgraded Oklo to a “strong sell” rating in a research note on Friday, July 25th. Finally, CLSA upgraded Oklo from an “outperform” rating to a “moderate buy” rating and increased their target price for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.78.

Oklo Stock Up 9.5%

NYSE OKLO opened at $78.71 on Tuesday. The stock has a market cap of $10.98 billion, a PE ratio of -187.40 and a beta of 0.60. Oklo has a fifty-two week low of $5.35 and a fifty-two week high of $85.35. The business has a 50 day moving average price of $63.37 and a two-hundred day moving average price of $43.70.

Oklo (NYSE:OKLO) last released its quarterly 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). Sell-side analysts anticipate that Oklo will post -8.2 EPS for the current fiscal year.

Insider Activity at Oklo

In related news, Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,000 shares of company stock worth $35,066,500. Corporate insiders own 18.90% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. J.W. Cole Advisors Inc. increased its holdings in shares of Oklo by 8.1% during the second quarter. J.W. Cole Advisors Inc. now owns 21,113 shares of the company’s stock valued at $1,182,000 after purchasing an additional 1,587 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Oklo during the second quarter valued at $187,000. Financial Advocates Investment Management increased its holdings in shares of Oklo by 4.2% during the second quarter. Financial Advocates Investment Management now owns 11,387 shares of the company’s stock valued at $638,000 after purchasing an additional 455 shares during the period. Cornerstone Capital Inc. acquired a new position in shares of Oklo during the second quarter valued at $253,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Oklo during the second quarter valued at $550,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.