Oklo (NYSE:OKLO) Price Target Raised to $58.00 at B. Riley

Oklo (NYSE:OKLO) had its price objective hoisted by B. Riley from $27.00 to $58.00 in a research note released on Thursday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on OKLO. Citigroup lifted their price objective on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Craig Hallum began coverage on shares of Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Wedbush raised their price target on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Oklo presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Oklo Stock Performance

NYSE:OKLO opened at $47.75 on Thursday. The firm has a fifty day simple moving average of $27.15 and a two-hundred day simple moving average of $17.60. Oklo has a 12 month low of $5.35 and a 12 month high of $52.99.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated Friday, December 20th. The shares were 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 owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Institutional Trading of Oklo

Several hedge funds have recently added to or reduced their stakes in OKLO. HITE Hedge Asset Management LLC bought a new stake in Oklo in the third quarter worth about $19,753,000. Van ECK Associates Corp bought a new stake in shares of Oklo in the fourth quarter valued at approximately $38,661,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the fourth quarter valued at approximately $19,285,000. TimesSquare Capital Management LLC bought a new stake in shares of Oklo in the fourth quarter valued at approximately $17,104,000. Finally, Portland Investment Counsel Inc. bought a new stake in shares of Oklo in the third quarter valued at approximately $6,493,000. Institutional investors own 85.03% of the company’s stock.

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.