Concurrent Investment Advisors LLC Takes Position in Oklo Inc. (NYSE:OKLO)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. bought a new stake in shares of Oklo in the fourth quarter worth about $27,000. Sandy Spring Bank bought a new stake in shares of Oklo in the fourth quarter worth about $32,000. CoreCap Advisors LLC bought a new stake in shares of Oklo in the fourth quarter worth about $32,000. Covestor Ltd bought a new stake in shares of Oklo in the fourth quarter worth about $34,000. Finally, KBC Group NV bought a new stake in shares of Oklo in the first quarter worth about $36,000. Institutional investors own 85.03% of the company's stock.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $62.74, for a total value of $9,411,000.00. Following the completion of the sale, the director directly owned 250,000 shares of the company's stock, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 600,000 shares of company stock valued at $35,066,500 over the last three months. Insiders own 18.90% of the company's stock.

Analyst Ratings Changes

OKLO has been the subject of several recent research reports. BTIG Research initiated coverage on Oklo in a research report on Friday, April 11th. They set a "neutral" rating for the company. HC Wainwright initiated coverage on Oklo in a research report on Wednesday, April 23rd. They set a "buy" rating and a $55.00 price objective for the company. Wedbush set a $75.00 price objective on Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research report on Monday, June 23rd. Finally, Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Oklo Stock Performance

NYSE OKLO traded down $0.75 during trading hours on Friday, hitting $54.70. 9,780,993 shares of the company traded hands, compared to its average volume of 17,855,773. The business's 50-day moving average is $48.65 and its 200-day moving average is $36.50. Oklo Inc. has a twelve month low of $5.35 and a twelve month high of $73.55. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of -10.16 and a beta of 0.57.

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

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.