Balboa Wealth Partners Sells 6,840 Shares of Oklo Inc. (NYSE:OKLO)

Balboa Wealth Partners trimmed its stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 26.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,960 shares of the company's stock after selling 6,840 shares during the quarter. Balboa Wealth Partners' holdings in Oklo were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. JAT Capital Mgmt LP bought a new stake in Oklo in the fourth quarter worth approximately $14,798,000. ARK Investment Management LLC bought a new stake in Oklo in the fourth quarter worth approximately $9,645,000. Renaissance Technologies LLC bought a new stake in Oklo in the fourth quarter worth approximately $9,008,000. Finally, Temasek Holdings Private Ltd bought a new stake in Oklo in the fourth quarter worth approximately $5,447,000. 85.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OKLO shares. William Blair started coverage on Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating for the company. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price for the company. in a report on Monday. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and boosted their price objective for the company from $50.00 to $74.00 in a report on Tuesday, May 27th. HC Wainwright started coverage on Oklo in a report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective for the company. Finally, Wedbush set a $75.00 price objective on Oklo and gave the company an "outperform" rating in a report on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Insider Activity at Oklo

In other news, Director John M. Jansen bought 6,000 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now owns 6,000 shares of the company's stock, valued at approximately $147,420. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the transaction, the chief executive officer now directly owns 10,852,926 shares of the company's stock, valued at approximately $236,593,786.80. This trade represents a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,365 shares of company stock worth $17,547,230 in the last ninety days. 18.90% of the stock is owned by company insiders.

Oklo Stock Performance

NYSE:OKLO opened at $55.20 on Tuesday. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $73.55. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of -10.20 and a beta of 0.57. The business's fifty day moving average is $40.41 and its 200 day moving average is $33.53.

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

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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