McAlister Sweet & Associates Inc. Invests $280,000 in Oklo Inc. $OKLO

Key Points

• McAlister Sweet & Associates Inc. invested approximately $280,000 to acquire 5,000 shares of Oklo Inc., marking it as their 25th largest holding.
• CEO Jacob Dewitte sold 300,000 shares for $16.56 million in late June, reducing his ownership by 2.88%.
• Oklo's stock price has seen significant fluctuations, with a 12-month low of $6.08 and a high of $85.35, and it is currently trading at $82.65.

McAlister Sweet & Associates Inc. acquired a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $280,000. Oklo comprises about 0.3% of McAlister Sweet & Associates Inc.'s portfolio, making the stock its 25th largest holding.

A number of other hedge funds have also modified their holdings of OKLO. Howard Financial Services LTD. purchased a new position in Oklo in the 2nd quarter worth about $234,000. Kera Capital Partners Inc. acquired a new position in shares of Oklo in the second quarter worth about $212,000. Rhumbline Advisers acquired a new position in shares of Oklo in the first quarter worth about $65,000. Intrua Financial LLC increased its position in shares of Oklo by 4.2% in the first quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after acquiring an additional 535 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Oklo by 24.8% in the first quarter. Geneos Wealth Management Inc. now owns 36,973 shares of the company's stock valued at $800,000 after purchasing an additional 7,352 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on OKLO shares. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and lifted their price objective for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. BNP Paribas Exane initiated coverage on Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Craig Hallum cut shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price target for the company. in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.45.

Oklo Stock Up 15.6%

Oklo stock traded up $12.94 during mid-day trading on Monday, reaching $95.65. The company's stock had a trading volume of 27,898,578 shares, compared to its average volume of 12,060,022. Oklo Inc. has a 12 month low of $6.08 and a 12 month high of $95.91. The business's 50 day simple moving average is $70.61 and its 200 day simple moving average is $48.28.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings data 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). Research analysts anticipate 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, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the completion of the sale, the director directly owned 250,000 shares in the company, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the business'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 completion of the sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, 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 641,387 shares of company stock valued at $37,967,315 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.