Bank of America Corp DE Grows Stake in Oklo Inc. $OKLO

Key Points

• Bank of America increased its Oklo stake by 55.3% in the first quarter, owning 620,281 shares worth approximately $30.8 million. Institutional investors collectively hold 85.03% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $85.03, although recent targets range from $51 to $80 and include several neutral or hold ratings.
• Oklo shares opened at $44.39 after declining 4.4%; the company recently reported a quarterly EPS loss of $0.28 versus expectations of $0.16, while revenue reached $1.21 million, up 11,900% year over year.

Bank of America Corp DE grew its position in Oklo Inc. (NYSE:OKLO - Free Report) by 55.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 620,281 shares of the company's stock after buying an additional 220,976 shares during the quarter. Bank of America Corp DE owned 0.36% of Oklo worth $30,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. raised its holdings in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Oklo during the 3rd quarter worth about $45,000. Gilpin Wealth Management LLC purchased a new position in Oklo during the 4th quarter valued at about $29,000. Triumph Capital Management purchased a new position in Oklo during the 3rd quarter valued at about $49,000. Finally, SHP Wealth Management bought a new stake in shares of Oklo in the 4th quarter valued at about $32,000. Institutional investors own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a research report on Friday, May 22nd. Barclays reduced their price objective on shares of Oklo from $82.00 to $76.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Guggenheim started coverage on Oklo in a report on Thursday, June 25th. They set a "neutral" rating for the company. Truist Financial dropped their target price on Oklo from $55.00 to $51.00 and set a "hold" rating on the stock in a research report on Monday, August 10th. Finally, Wolfe Research began coverage on Oklo in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.03.

Oklo Stock Down 4.4%

NYSE:OKLO opened at $44.39 on Friday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of -47.22 and a beta of 1.17. Oklo Inc. has a 52 week low of $36.61 and a 52 week high of $193.84. The firm has a 50 day moving average of $48.84 and a 200 day moving average of $59.00.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analysts' expectations of $0.09 million. During the same quarter last year, the business posted ($0.18) EPS. Oklo's revenue was up 11900.0% compared to the same quarter last year. As a group, analysts expect that Oklo Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the transaction, the insider directly owned 36,175 shares of the company's stock, valued at approximately $2,099,597. This represents a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 483,629 shares of company stock worth $29,855,608 in the last three months. Corporate insiders own 12.70% of the company's stock.

Oklo Profile

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.

Want to see what other hedge funds are holding OKLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oklo Inc. (NYSE:OKLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source