Craig Hallum Begins Coverage on Oklo (NYSE:OKLO)

Equities researchers at Craig Hallum began coverage on shares of Oklo (NYSE:OKLO) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $44.00 price target on the stock. Craig Hallum’s target price indicates a potential upside of 41.52% from the stock’s current price.

Several other equities research analysts also recently weighed in on OKLO. Wedbush increased their price target on Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup increased their target price on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Oklo Price Performance

Oklo stock opened at $31.09 on Tuesday. Oklo has a 1-year low of $5.35 and a 1-year high of $43.70. The company’s 50-day moving average is $23.90 and its 200 day moving average is $15.79.

Insider Activity

In other news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $19,753,000. Atomi Financial Group Inc. purchased a new stake in shares of Oklo during the 4th quarter worth $19,285,000. Portland Investment Counsel Inc. bought a new stake in Oklo during the third quarter valued at about $6,493,000. Readystate Asset Management LP purchased a new position in Oklo in the third quarter valued at about $6,193,000. Finally, Geode Capital Management LLC bought a new position in Oklo in the third quarter worth about $5,971,000. 85.03% of the stock is currently 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.