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

Oklo (NYSE:OKLO) had its price target hoisted by stock analysts at Citigroup from $10.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 17.96% from the stock’s current price.

OKLO has been the subject of several other reports. B. Riley assumed coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Wedbush started coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective on the stock.

Oklo Trading Down 10.9 %

Oklo stock opened at $26.28 on Wednesday. The stock has a 50-day moving average price of $22.29 and a two-hundred day moving average price of $13.95. Oklo has a 12 month low of $5.35 and a 12 month high of $31.91.

Insider Buying and Selling at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo during the third quarter valued at about $19,753,000. Portland Investment Counsel Inc. bought a new stake in Oklo in the 3rd quarter valued at about $6,493,000. Readystate Asset Management LP acquired a new position in Oklo during the 3rd quarter worth approximately $6,193,000. Geode Capital Management LLC bought a new position in Oklo in the third quarter worth approximately $5,971,000. Finally, State Street Corp acquired a new stake in Oklo in the third quarter valued at approximately $2,889,000. 85.03% of the stock is owned by 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.