Oklo (NYSE:OKLO) Price Target Raised to $31.00 at Citigroup

Oklo (NYSE:OKLO) had its target price increased by research analysts at Citigroup from $10.00 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 17.96% from the stock’s previous close.

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

Oklo Stock Performance

OKLO opened at $26.28 on Wednesday. Oklo has a fifty-two week low of $5.35 and a fifty-two week high of $31.91. The company’s 50-day moving average is $22.29 and its 200 day moving average is $13.95.

Insiders Place Their Bets

In other news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. HITE Hedge Asset Management LLC purchased a new stake in Oklo during the third quarter valued at about $19,753,000. Portland Investment Counsel Inc. bought a new stake in shares of Oklo in the third quarter valued at approximately $6,493,000. Readystate Asset Management LP bought a new position in Oklo in the 3rd quarter worth approximately $6,193,000. Geode Capital Management LLC bought a new position in Oklo in the 3rd quarter worth approximately $5,971,000. Finally, State Street Corp purchased a new position in Oklo in the 3rd quarter valued at approximately $2,889,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.