Spirit of America Management Corp NY Acquires 16,500 Shares of Oklo Inc. (NYSE:OKLO)

Spirit of America Management Corp NY grew its holdings in Oklo Inc. (NYSE:OKLO - Free Report) by 1,650.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,500 shares of the company's stock after acquiring an additional 16,500 shares during the quarter. Spirit of America Management Corp NY's holdings in Oklo were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKLO. Rakuten Securities Inc. bought a new stake in Oklo during the first quarter worth about $137,000. Sowell Financial Services LLC lifted its position in Oklo by 5.4% during the first quarter. Sowell Financial Services LLC now owns 15,275 shares of the company's stock worth $330,000 after purchasing an additional 782 shares during the period. BayBridge Capital Group LLC bought a new stake in Oklo during the first quarter worth about $299,000. Wealth Enhancement Advisory Services LLC bought a new stake in Oklo during the first quarter worth about $254,000. Finally, Noble Wealth Management PBC bought a new stake in Oklo during the first quarter worth about $104,000. Institutional investors own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating on shares of Oklo in a research report on Wednesday, May 14th. BTIG Research assumed coverage on shares of Oklo in a research report on Friday, April 11th. They set a "neutral" rating for the company. Seaport Res Ptn raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wedbush set a $75.00 price objective on shares of Oklo and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, CLSA raised shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the stock from $50.00 to $74.00 in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Oklo currently has an average rating of "Moderate Buy" and an average price target of $56.00.

Insider Activity

In related news, Director John M. Jansen bought 6,000 shares of Oklo stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company's stock, valued at approximately $147,420. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Dewitte sold 41,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the completion of the sale, the chief executive officer now owns 10,852,926 shares in the company, valued at $236,593,786.80. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by insiders.

Oklo Price Performance

Oklo stock opened at $62.24 on Friday. The business has a 50 day moving average of $39.05 and a 200-day moving average of $32.85. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $73.55. The company has a market capitalization of $8.68 billion, a P/E ratio of -11.50 and a beta of 0.58.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Equities analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

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.

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