Oklo (NYSE:OKLO) Given New $31.00 Price Target at Citigroup

Oklo (NYSE:OKLO) had its price objective hoisted by Citigroup from $10.00 to $31.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on OKLO. B. Riley assumed coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target on the stock. Wedbush began coverage on shares of Oklo in a report on Thursday, December 19th. They set an “outperform” rating and a $26.00 target price on the stock.

Oklo Stock Down 10.9 %

Oklo stock opened at $26.28 on Wednesday. The business has a fifty day moving average price of $22.21 and a 200-day moving average price of $13.86. Oklo has a one year low of $5.35 and a one year high of $31.91.

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 230,569 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 12,543,085 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.80% of the company’s stock.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently modified their holdings of the company. Kozak & Associates Inc. bought a new stake in Oklo in the fourth quarter valued at approximately $57,000. Barclays PLC bought a new stake in shares of Oklo during the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd bought a new stake in Oklo during the third quarter worth about $94,000. Sanctuary Advisors LLC purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $100,000. Finally, Peapack Gladstone Financial Corp purchased a new stake in shares of Oklo in the third quarter worth $100,000. 85.03% of the stock is currently owned by institutional investors.

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.