Wedbush Securities Inc. Purchases New Holdings in Oklo Inc. (NYSE:OKLO)

Key Points

• Wedbush Securities Inc. has acquired 12,085 shares of Oklo Inc., valued at approximately $261,000, marking a significant investment in the company's future.
• Analysts show optimism for Oklo's growth, with various brokerages adjusting their price targets, including CLSA raising it from $50 to $74.
• CEO Jacob Dewitte and Director Michael Stuart Klein recently sold a combined total of 450,000 shares, indicating insider confidence about future stock performance despite a decrease in their holdings.

Wedbush Securities Inc. acquired a new position in shares of Oklo Inc. (NYSE:OKLO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,085 shares of the company's stock, valued at approximately $261,000.

Several other institutional investors have also modified their holdings of the business. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the 4th quarter valued at $27,000. CoreCap Advisors LLC acquired a new position in Oklo during the fourth quarter worth $32,000. Covestor Ltd bought a new position in shares of Oklo in the fourth quarter worth about $34,000. KBC Group NV acquired a new stake in Oklo during the first quarter worth about $36,000. Finally, Graybill Wealth Management LTD. bought a new position in Oklo during the first quarter worth about $43,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Stock Down 5.8%

Shares of OKLO traded down $4.38 during trading on Tuesday, reaching $71.12. The company's stock had a trading volume of 15,853,669 shares, compared to its average volume of 18,257,945. The company has a fifty day moving average of $57.10 and a two-hundred day moving average of $40.16. Oklo Inc. has a twelve month low of $5.35 and a twelve month high of $78.13. The company has a market cap of $9.92 billion, a price-to-earnings ratio of -13.15 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. As a group, equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKLO shares. BNP Paribas Exane initiated coverage on shares of Oklo in a report on Friday. They issued an "underperform" rating and a $14.00 target price on the stock. Wedbush set a $75.00 target price on shares of Oklo and gave the company an "outperform" rating in a report on Thursday, June 12th. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. William Blair started coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.33.

Insider Activity

In related news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the sale, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the transaction, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is currently owned by corporate insiders.

Oklo Company Profile

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.