CloudAlpha Capital Management Limited Hong Kong Purchases New Stake in Oklo Inc. (NYSE:OKLO)

Key Points

• CloudAlpha Capital Management Limited Hong Kong purchased 539,706 shares of Oklo Inc. for approximately $11.67 million, making it the firm's 18th largest position.
• Oklo Inc.'s stock has experienced significant price fluctuations over the past year, with a 52-week low of $5.35 and a high of $77.17, and currently has a market capitalization of $10.43 billion.
• Insider activity shows notable stock sales, with CEO Jacob Dewitte selling 300,000 shares, resulting in a decrease in his ownership by 2.88%.

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Oklo Inc. (NYSE:OKLO - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 539,706 shares of the company's stock, valued at approximately $11,674,000. Oklo comprises 0.9% of CloudAlpha Capital Management Limited Hong Kong's portfolio, making the stock its 18th biggest position. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.39% of Oklo as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in OKLO. Vanguard Group Inc. boosted its position in shares of Oklo by 92.8% in the 4th 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 last quarter. Raymond James Financial Inc. bought a new stake in Oklo during the 4th quarter valued at $2,209,000. Alliancebernstein L.P. purchased a new position in Oklo in the fourth quarter worth $1,693,000. LPL Financial LLC bought a new position in shares of Oklo during the fourth quarter valued at about $2,762,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Oklo during the first quarter valued at approximately $229,000. 85.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the transaction, the chief executive officer directly 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 SEC, which is available through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the sale, the director owned 200,000 shares in the company, valued at $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. In the last three months, insiders have sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several research analyst reports. William Blair started coverage on shares of Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating for the company. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. BTIG Research initiated coverage on shares of Oklo in a research note on Friday, April 11th. They issued a "neutral" rating for the company. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday. Finally, CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and increased their target price for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $59.33.

Oklo Stock Down 3.1%

Shares of OKLO traded down $2.32 during trading on Monday, reaching $73.18. 11,982,489 shares of the company traded hands, compared to its average volume of 18,235,029. Oklo Inc. has a twelve month low of $5.35 and a twelve month high of $77.55. The stock has a market cap of $10.21 billion, a PE ratio of -13.53 and a beta of 0.57. The stock has a 50-day simple moving average of $56.39 and a 200-day simple moving average of $39.81.

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

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.