Oklo Inc. $OKLO Shares Purchased by Portland Investment Counsel Inc.

Key Points

• Portland Investment Counsel Inc. increased its stake in Oklo Inc. by 0.6%, holding 807,580 shares, which represents 5.3% of its total holdings with a value of approximately $17.4 million.
• Company insiders, including Director Michael Stuart Klein and CEO Jacob Dewitte, sold significant shares of Oklo recently, with Dewitte selling 300,000 shares valued at over $16.5 million.
• Oklo's stock has experienced fluctuations, recently trading at $67.10, with a 1-year range between $5.35 and $85.35, and has been rated with an average of "Moderate Buy" by analysts.

Portland Investment Counsel Inc. boosted its position in Oklo Inc. (NYSE:OKLO - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 807,580 shares of the company's stock after purchasing an additional 5,000 shares during the quarter. Oklo comprises about 5.3% of Portland Investment Counsel Inc.'s holdings, making the stock its 10th largest position. Portland Investment Counsel Inc. owned 0.58% of Oklo worth $17,358,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. acquired a new position in Oklo in the 4th quarter valued at about $27,000. CoreCap Advisors LLC acquired a new position in Oklo in the 4th quarter valued at about $32,000. KBC Group NV acquired a new position in Oklo in the 1st quarter valued at about $36,000. Deutsche Bank AG raised its stake in Oklo by 161.7% in the 1st quarter. Deutsche Bank AG now owns 1,748 shares of the company's stock valued at $38,000 after purchasing an additional 1,080 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in Oklo by 120.9% in the 1st quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock valued at $39,000 after purchasing an additional 985 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company's stock.

Insider Activity

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction dated 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. This represents a 20.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value 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. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 600,000 shares of company stock valued at $35,066,500. Company insiders own 18.90% of the company's stock.

Oklo Stock Up 0.8%

NYSE:OKLO opened at $67.1040 on Friday. Oklo Inc. has a 1-year low of $5.35 and a 1-year high of $85.35. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of -159.77 and a beta of 0.60. The stock has a fifty day simple moving average of $65.45 and a 200 day simple moving average of $45.20.

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

Analyst Upgrades and Downgrades

OKLO has been the subject of several analyst reports. Daiwa Capital Markets raised shares of Oklo from a "neutral" rating to an "outperform" rating in a research note on Sunday, July 27th. BNP Paribas Exane assumed coverage on shares of Oklo in a research note on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective for the company. CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. 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 research note on Tuesday, August 12th. Finally, Craig Hallum downgraded shares of Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a research note on Monday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.90.

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.

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