Virtu Financial LLC Makes New Investment in Oklo Inc. (NYSE:OKLO)

Key Points

• Virtu Financial LLC has acquired a new position in Oklo Inc., purchasing 118,229 shares valued at approximately $2.56 million, which accounts for 0.08% of the company's stock.
• Several hedge funds increased their stakes in Oklo, with institutional investors now owning 85.03% of the company's shares, highlighting significant market interest.
• Oklo shares have experienced volatility, with a 12-month low of $5.35 and a high of $85.35, currently trading down 5.2% at around $75.18.

Virtu Financial LLC bought a new position in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 118,229 shares of the company's stock, valued at approximately $2,557,000. Virtu Financial LLC owned 0.08% of Oklo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 worth $104,646,000 after buying an additional 74,315 shares during the period. Vanguard Group Inc. boosted its stake 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 worth $94,770,000 after buying an additional 37,718 shares during the period. JAT Capital Mgmt LP acquired a new stake in Oklo in the fourth quarter valued at about $14,798,000. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Oklo in the first quarter valued at about $11,674,000. Finally, Renaissance Technologies LLC acquired a new stake in Oklo in the fourth quarter valued at about $9,008,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Oklo Trading Down 5.2%

Shares of Oklo stock opened at $75.18 on Friday. Oklo Inc. has a 12-month low of $5.35 and a 12-month high of $85.35. The stock has a market cap of $10.49 billion, a PE ratio of -13.90 and a beta of 0.60. The company has a 50-day moving average of $62.41 and a two-hundred day moving average of $43.22.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. On average, sell-side analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Stuart Klein sold 150,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares of the company's stock, valued at approximately $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,000 shares of company stock valued at $35,066,500. Corporate insiders own 18.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OKLO shares. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Seaport Res Ptn upgraded 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 company an "outperform" rating in a research report on Thursday, June 12th. Finally, William Blair started coverage on shares of Oklo in a research report on Wednesday, May 28th. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.33.

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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