Citizens Financial Group Inc. RI Makes New $1.12 Million Investment in Oklo Inc. (NYSE:OKLO)

Key Points

• Citizens Financial Group Inc. acquired a new stake of 51,735 shares in Oklo Inc., valued at approximately $1,119,000, during the first quarter.
• In the last 90 days, insiders of Oklo have sold a total of 600,000 shares valued at around $35 million, indicating a shift in company ownership dynamics.
• Oklo's stock recently opened at $79.22 but has seen a decrease of 4.7%, highlighting ongoing volatility in its stock performance.

Citizens Financial Group Inc. RI purchased a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 51,735 shares of the company's stock, valued at approximately $1,119,000.

Other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo in the 4th quarter valued at $27,000. CoreCap Advisors LLC bought a new stake in Oklo during the fourth quarter worth $32,000. Covestor Ltd bought a new stake in Oklo during the fourth quarter worth $34,000. KBC Group NV bought a new stake in Oklo during the first quarter worth $36,000. Finally, Harbour Investments Inc. lifted its holdings in Oklo by 120.9% during the first quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock worth $39,000 after acquiring an additional 985 shares during the period. 85.03% of the stock is owned by institutional investors.

Oklo Price Performance

Shares of NYSE:OKLO traded down $4.14 during trading on Friday, hitting $75.18. The company's stock had a trading volume of 13,688,646 shares, compared to its average volume of 20,725,484. The company has a 50-day moving average of $62.41 and a 200-day moving average of $43.15. Oklo Inc. has a 12 month low of $5.35 and a 12 month high of $85.35. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of -13.90 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. As a group, research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Activity at Oklo

In related news, 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 directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were 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. The trade was a 20.00% 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 in the last three months. 18.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of analyst reports. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and increased their price target for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. William Blair started coverage on shares of Oklo in a report on Wednesday, May 28th. They issued an "outperform" rating for the company. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a report on Friday, July 25th. Finally, HC Wainwright assumed coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.33.

About Oklo

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.