MGO One Seven LLC Raises Stock Position in Oklo Inc. $OKLO

Key Points

• MGO One Seven LLC increased its stock position in Oklo Inc. by 203.4% during Q2, owning 36,543 shares valued at approximately $2,046,000.
• Oklo experienced a market cap of $25.56 billion with a recent 12-month stock price range between $9.54 and $183.20.
• Insider trading activity saw Director Michael Stuart Klein and CEO Jacob Dewitte sell significant shares, totaling over $40 million in value, indicating a decline in their ownership percentages.

MGO One Seven LLC lifted its position in Oklo Inc. (NYSE:OKLO - Free Report) by 203.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,543 shares of the company's stock after buying an additional 24,497 shares during the period. MGO One Seven LLC's holdings in Oklo were worth $2,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Oklo by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after acquiring an additional 37,718 shares in the last quarter. Compound Planning Inc. increased its holdings in shares of Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after acquiring an additional 56,437 shares in the last quarter. Portland Investment Counsel Inc. increased its holdings in shares of Oklo by 0.6% during the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after acquiring an additional 5,000 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Oklo during the first quarter valued at about $11,674,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Trading Up 1.2%

Shares of NYSE:OKLO opened at $173.14 on Wednesday. Oklo Inc. has a twelve month low of $9.54 and a twelve month high of $183.20. The company's 50 day moving average is $97.31 and its 200 day moving average is $63.46. The company has a market cap of $25.56 billion, a PE ratio of -412.22 and a beta of 0.69.

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

Insider Buying and Selling

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the sale, the director owned 150,000 shares in the company, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the completion of the sale, the chief executive officer owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OKLO shares. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. HC Wainwright upped their price objective on shares of Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Canaccord Genuity Group started coverage on shares of Oklo in a report on Thursday, October 9th. They set a "buy" rating and a $175.00 price objective on the stock. Bank of America restated a "neutral" rating and set a $117.00 price objective (up previously from $92.00) on shares of Oklo in a report on Tuesday, September 30th. Finally, Seaport Res Ptn downgraded shares of Oklo from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. One research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $98.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.