Sunpointe LLC Takes $252,000 Position in Oklo Inc. $OKLO

Key Points

• Sunpointe LLC acquired 4,500 shares of Oklo Inc. for approximately $252,000, marking a new position during the second quarter.
• Oklo's stock ratings show a consensus of "Moderate Buy" with a target price of $66.45, following various mixed ratings from analysts.
• Insiders sold a total of 541,387 shares valued at over $31 million in the past three months, indicating significant insider activity.

Sunpointe LLC acquired a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,500 shares of the company's stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OKLO. Westbourne Investments Inc. acquired a new position in shares of Oklo in the 2nd quarter valued at $347,000. MRA Advisory Group raised its stake in shares of Oklo by 2.8% during the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock valued at $547,000 after buying an additional 266 shares during the last quarter. Fox Hill Wealth Management acquired a new stake in Oklo in the 2nd quarter worth about $586,000. Modus Advisors LLC acquired a new stake in Oklo in the 2nd quarter worth about $560,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Oklo by 22.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 23,288 shares of the company's stock worth $1,304,000 after buying an additional 4,327 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their target price for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. HC Wainwright boosted their target price on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. Finally, Wedbush upped their price objective on Oklo from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.45.

Insider Buying and Selling

In related news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The disclosure for this sale can be found here. Insiders sold 541,387 shares of company stock valued at $31,614,315 over the last ninety days. Corporate insiders own 18.90% of the company's stock.

Oklo Stock Performance

NYSE OKLO traded up $9.46 during trading hours on Thursday, hitting $104.75. The company had a trading volume of 27,899,656 shares, compared to its average volume of 13,574,614. Oklo Inc. has a 1-year low of $6.42 and a 1-year high of $110.82. The company has a market cap of $15.46 billion, a PE ratio of -249.40 and a beta of 0.59. The business has a 50 day moving average of $74.04 and a 200-day moving average of $49.88.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Sell-side analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

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.