Oklo (OKLO) stock rallied on Friday as call options for the nuclear energy company’s shares are set to expire today. This has resulted in increased trading of OKLO stock, with some 19.3 million shares having changed hands as of this writing. That’s quickly closing in on the company’s three-month daily average of 21.65 million units.
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That’s not the only news that has benefited OKLO stock recently. The company’s shares have continued a rally that started yesterday. The catalyst for that increase was new analyst coverage. Two financial firms initiated coverage of Oklo, sparking investors’ interest in the shares.
- Five-star Canaccord Genuity analyst George Gianarikas initiated coverage of Oklo with a Buy rating and $175 price target, suggesting a possible 15.29% upside for the shares.
- Oppenheimer also initiated coverage of OKLO stock yesterday, mimicking Canaccord Genuity’s stance with a Buy rating and $175 price target.
The bullish coverage for OKLO stock comes despite warnings that it isn’t expected to report its first profit before 2030. Even so, the nuclear energy landscape in the U.S. is rapidly changing, and there’s strong potential for Oklo to be a major player in the space.
Oklo Stock Movement Today
Oklo stock was up 9.23% on Friday, extending a 610.69% year-to-date rally. The shares have also increased a whopping 1,409.64% over the past 12 months. These gains come as traders have high hopes for Oklo once it starts reporting profits.
Is Oklo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Oklo is Moderate Buy, based on eight Buy, eight Hold, and a single Sell rating over the past three months. With that comes an average OKLO stock price target of $106.33, representing a potential 30.77% downside for the shares.
