Cambridge Investment Research Advisors Inc. Buys 27,458 Shares of Oklo Inc. (NYSE:OKLO)

Cambridge Investment Research Advisors Inc. lifted its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 66.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,577 shares of the company's stock after purchasing an additional 27,458 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Oklo were worth $1,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OKLO. Vanguard Group Inc. grew its stake 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 during the period. JAT Capital Mgmt LP purchased a new stake in shares of Oklo in the 4th quarter worth about $14,798,000. Renaissance Technologies LLC bought a new position in shares of Oklo in the 4th quarter worth about $9,008,000. Temasek Holdings Private Ltd purchased a new position in Oklo during the 4th quarter valued at about $5,447,000. Finally, SIR Capital Management L.P. purchased a new position in Oklo during the 4th quarter valued at about $3,300,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Stock Performance

Shares of OKLO traded up $2.16 during mid-day trading on Friday, hitting $53.49. 8,869,152 shares of the company traded hands, compared to its average volume of 14,485,309. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of -9.89 and a beta of 0.57. The stock has a 50-day moving average price of $45.65 and a two-hundred day moving average price of $35.32. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $73.55.

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, beating analysts' consensus estimates of ($0.11) by $0.04. On average, analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Insiders Place Their Bets

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the transaction, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 10,105,098 shares in the company, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OKLO shares. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their target price for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Citigroup reiterated a "neutral" rating on shares of Oklo in a report on Wednesday, May 14th. HC Wainwright assumed coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price objective for the company. Finally, Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research report on Monday, June 23rd. Three 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

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.