Balboa Wealth Partners Cuts Holdings in Oklo Inc. $OKLO

Key Points

• Balboa Wealth Partners has cut its holdings in Oklo Inc. by 37.6%, owning 11,828 shares valued at approximately $662,000 after the sale.
• Oklo Inc. recently reported an EPS of (0.18), missing the consensus estimate, and analysts predict the company will post an annual EPS of (8.2).
• Institutional investors dominate Oklo's stock ownership, holding 85.03% of the company's shares, with recent activity showing both increases and decreases in various fund holdings.

Balboa Wealth Partners decreased its holdings in Oklo Inc. (NYSE:OKLO - Free Report) by 37.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,828 shares of the company's stock after selling 7,132 shares during the period. Balboa Wealth Partners' holdings in Oklo were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Oklo by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after acquiring an additional 37,718 shares during the period. Compound Planning Inc. boosted its position in Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Portland Investment Counsel Inc. grew its stake in Oklo by 0.6% in the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after purchasing an additional 5,000 shares during the last quarter. Millennium Management LLC raised its holdings in Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after purchasing an additional 570,532 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Oklo during the first quarter valued at about $11,674,000. Institutional investors own 85.03% of the company's stock.

Oklo Trading Up 0.8%

NYSE:OKLO opened at $163.41 on Monday. Oklo Inc. has a twelve month low of $15.48 and a twelve month high of $193.84. The company has a market cap of $24.12 billion, a PE ratio of -389.07 and a beta of 0.69. The company's 50 day moving average is $102.50 and its two-hundred day moving average is $66.76.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Transactions at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the transaction, the director directly owned 150,000 shares of the company's stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Craig Bealmear sold 7,622 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the completion of the transaction, the chief financial officer owned 121,913 shares of the company's stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,387 shares of company stock worth $52,698,580 in the last 90 days. 18.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Oklo from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price target on the stock. UBS Group set a $175.00 price target on Oklo in a research report on Thursday, October 9th. Finally, Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.14.

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.

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