Mirae Asset Global Investments Co. Ltd. purchased a new stake in Oklo Inc. (NYSE:OKLO – Free Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 310,194 shares of the company’s stock, valued at approximately $11,483,000.
Several other institutional investors have also added to or reduced their stakes in OKLO. Pilgrim Partners Asia Pte Ltd increased its position in Oklo by 66.0% during the third quarter. Pilgrim Partners Asia Pte Ltd now owns 1,660 shares of the company’s stock valued at $61,000 after acquiring an additional 660 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Oklo by 159.5% in the 3rd quarter. International Assets Investment Management LLC now owns 30,000 shares of the company’s stock worth $1,111,000 after acquiring an additional 18,438 shares during the last quarter. Choreo LLC lifted its holdings in shares of Oklo by 4.1% in the 3rd quarter. Choreo LLC now owns 10,478 shares of the company’s stock worth $388,000 after acquiring an additional 412 shares during the last quarter. BOKF NA boosted its stake in shares of Oklo by 172.7% during the 3rd quarter. BOKF NA now owns 30,000 shares of the company’s stock worth $1,111,000 after purchasing an additional 19,000 shares during the period. Finally, VestGen Advisors LLC bought a new position in Oklo during the 3rd quarter valued at about $226,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Wedbush began coverage on Oklo in a report on Tuesday. They set an “outperform” rating and a $36.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a research report on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a research note on Monday, August 10th. Citigroup reduced their price objective on Oklo from $57.50 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Finally, Truist Financial cut their price target on Oklo from $51.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and an average price target of $69.72.
Oklo Price Performance
OKLO opened at $22.04 on Thursday. Oklo Inc. has a 12 month low of $21.65 and a 12 month high of $123.44. The business has a fifty day moving average price of $34.38 and a 200 day moving average price of $53.06. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -23.45 and a beta of 1.31.
Oklo (NYSE:OKLO – Get Free Report) last issued its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The firm had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. The business’s quarterly revenue was up 11900.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) earnings per share. On average, research analysts anticipate that Oklo Inc. will post -1.01 earnings per share for the current year.
More Oklo News
Here are the key news stories impacting Oklo this week:
- Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $36 price target, implying potential upside from the share price cited in the report. However, the firm had cut its target substantially from $110. Wedbush cuts Oklo price target
- Neutral Sentiment: CEO Jacob DeWitte and CFO Richard Bealmear reported stock sales made under pre-arranged Rule 10b5-1 plans. The sales may draw investor attention, though the scheduled nature provides context. CEO SEC filing CFO SEC filing
- Negative Sentiment: Markets reportedly reacted to projections that Democrats would win Congress, raising concerns about a possible slowdown in data-center construction and AI-related power demand. Oklo may be especially exposed because it has very little revenue compared with established contractors. Election concerns weigh on AI power stocks
- Negative Sentiment: Investors also face concerns about rising development costs and prior earnings misses ahead of quarterly results. Oklo’s limited current revenue makes successful project execution and converting reactor progress into commercial sales important to its valuation. Zacks analyst blog
Insiders Place Their Bets
In related news, CFO Richard Bealmear sold 16,727 shares of Oklo stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $25.55, for a total transaction of $427,374.85. Following the transaction, the chief financial officer directly owned 467,261 shares of the company’s stock, valued at $11,938,518.55. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob DeWitte sold 40,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $24.64, for a total value of $985,600.00. Following the completion of the transaction, the chief executive officer owned 351,533 shares in the company, valued at $8,661,773.12. This trade represents a 10.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 350,203 shares of company stock valued at $12,424,945. Company insiders own 12.70% of the company’s stock.
About Oklo
Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.
The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.
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