Cresset Asset Management LLC Increases Stock Position in Oklo Inc. $OKLO

Key Points

• Cresset Asset Management LLC increased its stake in Oklo Inc. by 22.0%, owning 27,786 shares valued at $601,000 as of its latest SEC filing.
• Institutional investors hold 85.03% of Oklo's stock, with several hedge funds either increasing their stakes or acquiring new positions in the company recently.
• Oklo has received mixed ratings from analysts, resulting in a consensus rating of "Moderate Buy" with a target price of $63.90.

Cresset Asset Management LLC lifted its position in Oklo Inc. (NYSE:OKLO - Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,786 shares of the company's stock after purchasing an additional 5,003 shares during the quarter. Cresset Asset Management LLC's holdings in Oklo were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. JAT Capital Mgmt LP acquired a new position in Oklo in the fourth quarter valued at about $14,798,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Oklo in the first quarter valued at about $11,674,000. Temasek Holdings Private Ltd acquired a new position in Oklo in the fourth quarter valued at about $5,447,000. Headlands Technologies LLC lifted its position in shares of Oklo by 2,120.2% during the first quarter. Headlands Technologies LLC now owns 218,820 shares of the company's stock worth $4,733,000 after purchasing an additional 208,964 shares in the last quarter. Finally, SIR Capital Management L.P. acquired a new stake in shares of Oklo during the fourth quarter worth about $3,300,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Stock Performance

OKLO stock traded up $0.91 during midday trading on Monday, reaching $71.29. 8,658,811 shares of the company were exchanged, compared to its average volume of 17,959,447. Oklo Inc. has a 1-year low of $5.35 and a 1-year high of $85.35. The stock's 50-day simple moving average is $65.59 and its 200 day simple moving average is $45.31. The company has a market cap of $10.52 billion, a price-to-earnings ratio of -169.73 and a beta of 0.60.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). On average, research analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKLO. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. BNP Paribas Exane assumed coverage on shares of Oklo in a research report on Friday, July 25th. They set an "underperform" rating and a $14.00 price target on the stock. BTIG Research reaffirmed a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. BNP Paribas raised shares of Oklo to a "strong sell" rating in a report on Friday, July 25th. Finally, UBS Group assumed coverage on shares of Oklo in a report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.90.

Insider Buying and Selling

In other news, 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 transaction of $16,560,000.00. Following the transaction, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $9,411,000.00. Following the transaction, the director owned 250,000 shares in the company, valued at approximately $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 600,000 shares of company stock worth $35,066,500. Insiders own 18.90% of the company's stock.

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.