NewEdge Advisors LLC Buys 13,002 Shares of Oklo Inc. $OKLO

NewEdge Advisors LLC boosted its position in Oklo Inc. (NYSE:OKLOFree Report) by 56.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 35,894 shares of the company’s stock after purchasing an additional 13,002 shares during the period. NewEdge Advisors LLC’s holdings in Oklo were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Oklo by 162.6% in the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after buying an additional 57,497 shares during the period. AQR Capital Management LLC bought a new position in shares of Oklo during the 1st quarter worth $519,000. Millennium Management LLC grew its stake in shares of Oklo by 4,974.1% during the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after acquiring an additional 570,532 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after acquiring an additional 53,703 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Oklo in the 1st quarter valued at about $65,000. 85.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the sale, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of Oklo stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the sale, the insider directly owned 36,175 shares of the company’s stock, valued at $2,099,597. This represents a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 483,629 shares of company stock worth $29,855,608 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on OKLO shares. Barclays dropped their price objective on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Guggenheim started coverage on shares of Oklo in a research note on Thursday, June 25th. They issued a “neutral” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. Bank of America began coverage on shares of Oklo in a research report on Friday, May 22nd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Tigress Financial assumed coverage on shares of Oklo in a research note on Monday, April 27th. They set a “buy” rating and a $130.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.03.

Check Out Our Latest Stock Analysis on Oklo

Oklo Trading Down 4.4%

Shares of NYSE:OKLO opened at $44.39 on Friday. The company has a 50 day moving average of $48.84 and a 200 day moving average of $59.00. The stock has a market cap of $8.26 billion, a P/E ratio of -47.22 and a beta of 1.17. Oklo Inc. has a 12 month low of $36.61 and a 12 month high of $193.84.

Oklo (NYSE:OKLOGet Free Report) last posted its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business had revenue of $1.21 million for the quarter, compared to analyst estimates of $0.09 million. During the same quarter in the previous year, the company earned ($0.18) EPS. Oklo’s quarterly revenue was up 11900.0% on a year-over-year basis. On average, equities analysts forecast that Oklo Inc. will post -0.9 earnings per share for the current fiscal year.

About Oklo

(Free Report)

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.

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Institutional Ownership by Quarter for Oklo (NYSE:OKLO)

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