Janney Montgomery Scott LLC Raises Stock Position in Oklo Inc. $OKLO

Key Points

• Janney Montgomery Scott LLC increased its stake in Oklo Inc. by 17.2% during the second quarter, holding 14,339 shares valued at approximately $803,000.
• Insider transactions include CFO Richard Craig Bealmear selling 92,378 shares worth $8.66 million, resulting in a 54.95% decrease in his position.
• Oklo's stock is currently rated as a "Hold" by consensus, with a target price averaging $98.14 according to market analysts.

Janney Montgomery Scott LLC raised its stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,339 shares of the company's stock after purchasing an additional 2,106 shares during the quarter. Janney Montgomery Scott LLC's holdings in Oklo were worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OKLO. Caldwell Sutter Capital Inc. purchased a new position in Oklo during the 2nd quarter valued at $25,000. KBC Group NV purchased a new position in Oklo during the 1st quarter valued at $36,000. Deutsche Bank AG grew its position in shares of Oklo by 161.7% in 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 during the period. Harbour Investments Inc. grew its position in shares of Oklo by 120.9% in 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 during the period. Finally, ORG Partners LLC grew its position in shares of Oklo by 281.0% in the 2nd quarter. ORG Partners LLC now owns 800 shares of the company's stock worth $41,000 after buying an additional 590 shares during the period. 85.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oklo

In other Oklo news, CFO Richard Craig Bealmear sold 92,378 shares of the company's 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 transaction, the chief financial officer owned 75,738 shares in the company, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The disclosure for this sale can be found here. Insiders have sold a total of 491,387 shares of company stock worth $52,698,580 over the last quarter. 18.90% of the stock is currently owned by insiders.

Oklo Stock Performance

OKLO opened at $171.86 on Thursday. The stock has a market capitalization of $25.37 billion, a P/E ratio of -409.18 and a beta of 0.69. The company's 50-day simple moving average is $99.08 and its two-hundred day simple moving average is $64.21. Oklo Inc. has a 52-week low of $12.30 and a 52-week high of $193.84.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oklo in a research report on Wednesday, October 8th. Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. HC Wainwright upped their target price on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Canaccord Genuity Group assumed coverage on shares of Oklo in a research report on Thursday, October 9th. They issued a "buy" rating and a $175.00 target price on the stock. Finally, Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $98.14.

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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