Foundations Investment Advisors LLC Has $1.14 Million Position in Oklo Inc. (NYSE:OKLO)

Key Points

• Foundations Investment Advisors LLC increased its stake in Oklo Inc. by 13.5%, acquiring an additional 6,248 shares, bringing its total to 52,655 shares valued at approximately $1.14 million.
• As of the latest financial data, Oklo Inc. has a market capitalization of $10.57 billion, with a notable fifty-day moving average price of $58.56.
• Insider activity was significant, with CEO Jacob Dewitte selling 300,000 shares for roughly $16.56 million, reducing his ownership by 2.88% in the company.

Foundations Investment Advisors LLC raised its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,655 shares of the company's stock after acquiring an additional 6,248 shares during the quarter. Foundations Investment Advisors LLC's holdings in Oklo were worth $1,139,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in Oklo by 103.9% in the 1st quarter. LPL Financial LLC now owns 265,241 shares of the company's stock valued at $5,737,000 after buying an additional 135,157 shares during the period. Windmill Hill Asset Management Ltd boosted its holdings in Oklo by 47.9% in the 1st quarter. Windmill Hill Asset Management Ltd now owns 102,855 shares of the company's stock worth $2,225,000 after acquiring an additional 33,329 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Oklo in the 1st quarter valued at about $11,674,000. Cetera Investment Advisers raised its position in shares of Oklo by 72.2% during the 1st quarter. Cetera Investment Advisers now owns 99,237 shares of the company's stock worth $2,146,000 after buying an additional 41,617 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Oklo in the 1st quarter worth approximately $339,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Stock Down 6.6%

Shares of Oklo stock traded down $5.09 during trading on Friday, hitting $71.50. The stock had a trading volume of 19,731,729 shares, compared to its average volume of 18,803,550. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $80.42. The stock has a 50 day simple moving average of $59.28 and a 200 day simple moving average of $40.99. The company has a market capitalization of $9.98 billion, a PE ratio of -13.22 and a beta of 0.57.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. As a group, equities analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction 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 completion of the sale, the chief executive officer owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the transaction, the director directly owned 200,000 shares in the company, valued at $10,970,000. This trade represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 600,000 shares of company stock valued at $35,066,500 over the last three months. 18.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on OKLO shares. CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and raised their price objective for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a report on Sunday, July 27th. Wedbush set a $75.00 target price on Oklo and gave the company an "outperform" rating in a research note on Thursday, June 12th. Finally, Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target on the stock. in a research report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $59.33.

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.