ARK Investment Management LLC Has $6.22 Million Holdings in Oklo Inc. (NYSE:OKLO)

Key Points

• ARK Investment Management has reduced its stake in Oklo Inc. by 36.7%, now holding approximately $6.22 million worth of the company's shares.
• Oklo recently reported earnings of ($0.07) EPS, exceeding analyst expectations, while predictions for the fiscal year suggest a consensus of -8.2 EPS.
• Research analysts have given mixed ratings on Oklo's stock, with the current consensus rating of "Hold" and an average price target of $59.33.

ARK Investment Management LLC cut its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 36.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,744 shares of the company's stock after selling 166,550 shares during the period. ARK Investment Management LLC owned about 0.21% of Oklo worth $6,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in Oklo during the 4th quarter valued at $27,000. CoreCap Advisors LLC acquired a new stake in Oklo during the 4th quarter valued at $32,000. Covestor Ltd acquired a new stake in Oklo during the 4th quarter valued at $34,000. KBC Group NV acquired a new stake in Oklo during the 1st quarter valued at $36,000. Finally, Graybill Wealth Management LTD. acquired a new stake in Oklo during the 1st quarter valued at $43,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Stock Performance

NYSE:OKLO opened at $75.37 on Friday. The stock's 50-day simple moving average is $56.39 and its 200 day simple moving average is $39.62. The company has a market cap of $10.52 billion, a P/E ratio of -13.93 and a beta of 0.57. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $77.17.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup increased their price objective on Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday. Daiwa America upgraded Oklo to a "hold" rating in a research report on Friday, July 11th. Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research note on Monday, June 23rd. Finally, CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and raised their price objective for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $59.33.

Insider Transactions at Oklo

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the company's 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 sale, the director owned 200,000 shares in the company, valued at $10,970,000. This represents a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by company insiders.

Oklo 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.

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