Exchange Traded Concepts LLC Buys 51,970 Shares of Oklo Inc. $OKLO

Key Points

• Exchange Traded Concepts LLC increased its holdings in Oklo Inc. by 35.4% in the second quarter, reaching approximately $11.13 million in value.
• CEO Jacob Dewitte sold 300,000 shares of Oklo stock for about $16.56 million, reducing his ownership stake by 2.88%.
• The company's average rating among analysts is "Moderate Buy", with a price target averaging $66.45, while showing some significant price movements between a twelve-month low of $6.42 and a high of $110.82.

Exchange Traded Concepts LLC grew its holdings in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 35.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,805 shares of the company's stock after buying an additional 51,970 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.14% of Oklo worth $11,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in Oklo during the 1st quarter worth about $36,000. Deutsche Bank AG lifted its position in Oklo by 161.7% during the 1st quarter. Deutsche Bank AG now owns 1,748 shares of the company's stock worth $38,000 after buying an additional 1,080 shares in the last quarter. Harbour Investments Inc. lifted its position in Oklo by 120.9% during the 1st quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock worth $39,000 after buying an additional 985 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in Oklo during the 1st quarter worth about $43,000. Finally, Vestor Capital LLC bought a new stake in Oklo during the 1st quarter worth about $43,000. 85.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on OKLO. BNP Paribas raised shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Citigroup boosted their price target on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group began coverage on shares of Oklo in a research report on Wednesday, August 20th. They set a "neutral" rating and a $65.00 price target on the stock. Wedbush upped their target price on shares of Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a report on Monday. Finally, Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price on the stock. in a report on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.82.

Oklo Stock Up 3.6%

Shares of OKLO stock traded up $4.85 on Monday, reaching $140.08. The stock had a trading volume of 37,096,867 shares, compared to its average volume of 16,823,242. The firm's 50-day moving average is $77.18 and its two-hundred day moving average is $51.72. The firm has a market capitalization of $20.68 billion, a price-to-earnings ratio of -333.51 and a beta of 0.59. Oklo Inc. has a 12 month low of $7.90 and a 12 month high of $142.85.

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

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated 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. This represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Craig Bealmear sold 92,378 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the transaction, the chief financial officer directly owned 75,738 shares in the company, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,387 shares of company stock valued at $28,892,580 in the last three months. 18.90% of the stock is currently owned by company insiders.

Oklo 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.