Bank of New York Mellon Corp Purchases Shares of 16,558 Oklo Inc. (NYSE:OKLO)

Key Points

• The Bank of New York Mellon Corp acquired a new stake in Oklo Inc., purchasing 16,558 shares valued at approximately $358,000 during the first quarter.
• CEO Jacob Dewitte and Director Michael Stuart Klein both sold large portions of their Oklo shares, with Dewitte selling 300,000 shares for $16.56 million, resulting in a 2.88% reduction in his holdings.
• Analysts have mixed views on Oklo's stock, with price targets ranging from $14.00 to $73.00, leading to a current consensus rating of "Moderate Buy" and a median price target of $59.33.

Bank of New York Mellon Corp bought a new position in Oklo Inc. (NYSE:OKLO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,558 shares of the company's stock, valued at approximately $358,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new stake in Oklo during the 1st quarter valued at approximately $229,000. North Capital Inc. purchased a new stake in shares of Oklo in the first quarter valued at $65,000. Vermillion Wealth Management Inc. boosted its position in shares of Oklo by 623.6% during the first quarter. Vermillion Wealth Management Inc. now owns 3,618 shares of the company's stock valued at $78,000 after buying an additional 3,118 shares during the period. KBC Group NV purchased a new stake in Oklo in the first quarter worth $36,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Oklo in the 1st quarter valued at about $413,000. Institutional investors own 85.03% of the company's stock.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction on Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the sale, the chief executive officer owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $62.74, for a total value of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares of the company's stock, valued at approximately $15,685,000. The trade was a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 over the last quarter. 18.90% of the stock is currently owned by insiders.

Oklo Price Performance

Oklo stock traded up $7.59 during mid-day trading on Tuesday, reaching $84.00. The company had a trading volume of 23,427,845 shares, compared to its average volume of 20,008,452. The stock's 50-day simple moving average is $60.27 and its 200-day simple moving average is $41.91. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $85.20. The company has a market capitalization of $11.72 billion, a P/E ratio of -15.53 and a beta of 0.60.

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

Analysts Set New Price Targets

Several research firms recently issued reports on OKLO. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wedbush set a $75.00 price objective on Oklo and gave the company an "outperform" rating in a report on Thursday, June 12th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. BTIG Research initiated coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating for the company. Finally, BNP Paribas Exane initiated coverage on Oklo in a report on Friday, July 25th. They issued an "underperform" rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Oklo has an average rating of "Moderate Buy" and a consensus price target of $59.33.

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.