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Wedbush initiated coverage on quantum computing stocks, including IonQ, Rigetti Computing, and D-Wave Quantum, with Outperform ratings and price targets of $60, $35, and $35 respectively. IonQ's sales are projected to double by 2025, Rigetti's advanced chiplets are promising, and D-Wave is poised for commercial adoption. Stocks rose following the coverage initiation.
Deep-pocketed investors are showing a bearish sentiment towards Oklo (NYSE:OKLO), with significant options activity detected. Benzinga's options scanner highlighted 11 unusual options activities, with 36% of investors bearish and 18% bullish. Analysts have mixed views, with price targets ranging from $95 to $150. Oklo is developing advanced fission power plants and plans to commercialize its Aurora powerhouse product line. The stock is currently down 1.82% at $81.99, with an average analyst target price of $126.67. Options trading involves higher risks and potential rewards.
Uranium stocks, including Skyharbour Resources, Denison Mines, Cameco Corp., NexGen Energy, and Oklo Inc., are expected to rise due to increasing global uranium demand, the need for new mines post-2030, and the inclusion of uranium in the US critical minerals list. Skyharbour Resources announced a strategic agreement with Denison Mines for the Russell Lake Uranium Project, involving joint ventures and significant investments. Skyharbour remains well-funded and will continue advancing its projects.
Oklo Inc (NYSE:OKLO) shares are trending after announcing fast-spectrum reactor experiments at a U.S. Department of Energy site. The experiments, in partnership with Los Alamos National Laboratory, aim to validate plutonium as a bridge fuel for advanced reactors. Oklo plans to deploy its first nuclear plant by 2027-2028. Despite recent stock pullbacks, analysts remain optimistic, with several upgrading their ratings. Oklo shares are currently trading below key moving averages, indicating a bearish short-term trend, but potential support at $79 could signal a bounce back.
Northland Securities' Michael Grondahl maintained a Buy rating on Applied Digital Corporation with a $40 price target. Grondahl, who covers the Financial sector, has a 7.3% average return and a 42.09% success rate. Craig-Hallum's George Sutton also issued a Buy rating, while TR | OpenAI reiterated a Hold rating on APLD.
