PNC Financial Services Group Inc. Boosts Holdings in Oklo Inc. $OKLO

PNC Financial Services Group Inc. boosted its holdings in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 57.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,376 shares of the company's stock after purchasing an additional 3,801 shares during the period. PNC Financial Services Group Inc.'s holdings in Oklo were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Oklo by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,929,139 shares of the company's stock valued at $104,646,000 after purchasing an additional 74,315 shares during the period. JAT Capital Mgmt LP acquired a new position in shares of Oklo in the fourth quarter worth about $14,798,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Oklo in the first quarter worth about $11,674,000. LPL Financial LLC raised its position in shares of Oklo by 103.9% in the first quarter. LPL Financial LLC now owns 265,241 shares of the company's stock worth $5,737,000 after acquiring an additional 135,157 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Oklo by 69.5% in the fourth quarter. Baird Financial Group Inc. now owns 257,194 shares of the company's stock worth $5,460,000 after acquiring an additional 105,472 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the sale, the director 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 the SEC website. Also, CEO Jacob Dewitte sold 300,000 shares of the company'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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by corporate insiders.

Oklo Price Performance

NYSE OKLO traded up $0.5340 during trading hours on Thursday, hitting $67.1040. 12,433,395 shares of the company's stock traded hands, compared to its average volume of 17,782,312. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $85.35. The company has a market capitalization of $9.91 billion, a PE ratio of -159.77 and a beta of 0.60. The firm's 50-day moving average is $65.45 and its 200-day moving average is $45.20.

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 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.

Wall Street Analysts Forecast Growth

OKLO has been the subject of a number of analyst reports. William Blair reiterated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. HC Wainwright upped their price objective 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. Citigroup upped their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Finally, BTIG Research reiterated a "neutral" rating on shares of Oklo in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.