Concurrent Investment Advisors LLC Acquires Shares of 35,282 Oklo Inc. (NYSE:OKLO)

Concurrent Investment Advisors LLC acquired a new position in Oklo Inc. (NYSE:OKLO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,282 shares of the company's stock, valued at approximately $763,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in Oklo during the fourth quarter valued at about $131,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company's stock worth $198,000 after buying an additional 8,950 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Oklo in the 4th quarter worth approximately $2,209,000. PNC Financial Services Group Inc. purchased a new stake in Oklo in the 4th quarter worth approximately $140,000. Finally, AlphaQuest LLC bought a new position in Oklo in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Insider Buying and Selling at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 200,000 shares of the company's stock, valued at $10,970,000. This represents a 20.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction 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 approximately $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. William Blair assumed coverage on Oklo in a research note on Wednesday, May 28th. They set an "outperform" rating for the company. Craig Hallum cut shares of 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. BTIG Research started coverage on shares of Oklo in a research report on Friday, April 11th. They set a "neutral" rating for the company. HC Wainwright initiated coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Finally, Citigroup restated a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.50.

Oklo Stock Performance

Shares of OKLO stock traded up $1.65 on Thursday, hitting $55.58. 11,371,701 shares of the company's stock traded hands, compared to its average volume of 14,583,796. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of -10.27 and a beta of 0.57. The company's fifty day simple moving average is $48.07 and its 200 day simple moving average is $36.27. Oklo Inc. has a one year low of $5.35 and a one year high of $73.55.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data 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. As a group, sell-side analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current fiscal 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.