Axxcess Wealth Management LLC Makes New Investment in Oklo Inc. $OKLO

Key Points

• Axxcess Wealth Management LLC acquired 20,810 shares of Oklo Inc., valued at approximately $1,165,000, during the second quarter, as reported in a recent SEC filing.
• Several institutional investors, including MGO One Seven LLC and CWM LLC, significantly increased their stakes in Oklo, which is now owned 85.03% by institutional investors.
• Oklo's stock performance showed volatility, with a one-year low of $14.11 and a high of $193.84, while the company reported a missed earnings estimate of ($0.18) EPS for the last quarter.

Axxcess Wealth Management LLC acquired a new position in Oklo Inc. (NYSE:OKLO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,810 shares of the company's stock, valued at approximately $1,165,000.

Several other institutional investors have also added to or reduced their stakes in the company. MGO One Seven LLC lifted its stake in Oklo by 203.4% in the second quarter. MGO One Seven LLC now owns 36,543 shares of the company's stock worth $2,046,000 after purchasing an additional 24,497 shares during the last quarter. Carbahal Olsen Financial Services Group LLC purchased a new position in Oklo in the 2nd quarter worth about $280,000. CWM LLC increased its stake in Oklo by 202.7% in the 2nd quarter. CWM LLC now owns 15,072 shares of the company's stock worth $844,000 after buying an additional 10,092 shares during the period. Means Investment CO. Inc. purchased a new position in Oklo in the 2nd quarter worth about $250,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Oklo in the 2nd quarter worth about $213,000. Institutional investors own 85.03% of the company's stock.

Oklo Stock Performance

NYSE OKLO opened at $161.93 on Friday. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of -385.54 and a beta of 0.69. The company's 50-day simple moving average is $100.74 and its two-hundred day simple moving average is $65.17. Oklo Inc. has a one year low of $14.11 and a one year high of $193.84.

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

Insider Activity

In other news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director owned 150,000 shares of the company's stock, valued at $20,064,000. The trade was a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the transaction, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. The trade was a 54.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,387 shares of company stock worth $52,698,580 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on OKLO. Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a research note on Monday, June 23rd. Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. UBS Group set a $175.00 price target on shares of Oklo in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oklo in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $98.14.

About Oklo

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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