Mirae Asset Global Investments Co. Ltd. Makes New Investment in Oklo Inc. (NYSE:OKLO)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 18,440 shares of the company's stock, valued at approximately $413,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company's stock worth $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. JAT Capital Mgmt LP bought a new stake in shares of Oklo during the 4th quarter worth approximately $14,798,000. Renaissance Technologies LLC purchased a new stake in shares of Oklo during the fourth quarter valued at $9,008,000. Temasek Holdings Private Ltd bought a new stake in shares of Oklo during the fourth quarter valued at approximately $5,447,000. Finally, SIR Capital Management L.P. purchased a new stake in shares of Oklo in the 4th quarter worth $3,300,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Trading Up 4.2%

Shares of OKLO opened at $53.49 on Friday. Oklo Inc. has a 12-month low of $5.35 and a 12-month high of $73.55. The firm has a market capitalization of $7.46 billion, a P/E ratio of -9.89 and a beta of 0.57. The firm has a 50-day moving average price of $46.24 and a 200 day moving average price of $35.68.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. 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 news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total value of $2,742,500.00. Following the completion of the sale, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Monday, June 30th. The stock was 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 $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. William Blair began coverage on Oklo in a report on Wednesday, May 28th. They set an "outperform" rating for the company. HC Wainwright assumed coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a "buy" rating and a $55.00 price target on the stock. Citigroup reiterated a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. CLSA upgraded Oklo from an "outperform" rating to a "moderate buy" rating and raised their target price for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Finally, BTIG Research started coverage on shares of Oklo in a report on Friday, April 11th. They set a "neutral" rating on the stock. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

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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