Foster Victor Wealth Advisors LLC Invests $477,000 in Oklo Inc. $OKLO

Key Points

• Foster Victor Wealth Advisors LLC invested approximately $477,000 in Oklo Inc. during the 2nd quarter, acquiring 8,853 shares of the company.
• Institutional ownership of Oklo is high, with over 85% of the stock owned by hedge funds and institutional investors.
• Oklo recently reported a quarterly loss of ($0.18) EPS, missing analysts' estimates, as forecasts predict a yearly EPS of -8.2.

Foster Victor Wealth Advisors LLC bought a new position in Oklo Inc. (NYSE:OKLO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 8,853 shares of the company's stock, valued at approximately $477,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Oklo in the 1st quarter worth about $229,000. Bouvel Investment Partners LLC purchased a new stake in shares of Oklo in the 2nd quarter worth about $2,263,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Oklo by 66.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,577 shares of the company's stock worth $1,483,000 after purchasing an additional 27,458 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Oklo in the 1st quarter worth about $413,000. Finally, Spire Wealth Management increased its stake in shares of Oklo by 14.1% in the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after acquiring an additional 481 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Stock Performance

NYSE:OKLO opened at $131.09 on Thursday. The firm has a market cap of $19.35 billion, a P/E ratio of -312.10 and a beta of 0.59. Oklo Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $144.49. The firm has a 50-day simple moving average of $80.14 and a two-hundred day simple moving average of $52.89.

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, equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OKLO shares. William Blair reiterated an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Wedbush increased their price target on shares of Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Citigroup increased their price target on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $72.82.

Insider Activity

In other news, CFO Richard Craig Bealmear sold 7,622 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $101.44, for a total transaction of $773,175.68. Following the sale, the chief financial officer owned 121,913 shares of the company's stock, valued at $12,366,854.72. This trade represents a 5.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the firm's 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 sale, the chief executive officer directly owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,387 shares of company stock valued at $35,580,580 in the last quarter. 18.90% of the stock is owned by company insiders.

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.

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