Wealth Effects LLC Makes New Investment in Oklo Inc. $OKLO

Key Points

• Wealth Effects LLC has acquired a new stake in Oklo Inc., purchasing 6,710 shares valued at approximately $376,000.
• CEO Jacob Dewitte sold 300,000 shares of Oklo stock, generating a total of $16.56 million, indicating a reduction in his ownership by 2.88%.
• Recent analyst ratings reflect mixed sentiments on the stock, with one downgrading it to "hold" while others raised their price targets, resulting in a consensus rating of "Hold" and an average price target of $72.82.

Wealth Effects LLC bought a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,710 shares of the company's stock, valued at approximately $376,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caldwell Sutter Capital Inc. purchased a new stake in Oklo during the second quarter valued at $25,000. SJS Investment Consulting Inc. increased its holdings in shares of Oklo by 205.4% in the 2nd quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the company's stock worth $76,000 after buying an additional 908 shares during the last quarter. KBC Group NV purchased a new stake in shares of Oklo during the 1st quarter valued at about $36,000. Deutsche Bank AG lifted its holdings in shares of 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 acquiring an additional 1,080 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Oklo by 120.9% in the first quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock worth $39,000 after acquiring an additional 985 shares in the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKLO has been the topic of a number of recent research reports. Seaport Res Ptn downgraded Oklo from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and boosted their target price for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. Bank of America began coverage on Oklo in a research report on Tuesday, August 26th. They issued a "buy" rating and a $92.00 price target for the company. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. Finally, Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $72.82.

Insider Transactions at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 10,105,098 shares in the company, valued at approximately $557,801,409.60. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the sale, the chief financial officer directly owned 75,738 shares of the company's stock, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 441,387 shares of company stock valued at $28,892,580. 18.90% of the stock is currently owned by corporate insiders.

Oklo Price Performance

Shares of OKLO stock opened at $142.57 on Wednesday. The company has a market capitalization of $21.04 billion, a P/E ratio of -339.44 and a beta of 0.59. The company's 50-day simple moving average is $78.81 and its two-hundred day simple moving average is $52.35. Oklo Inc. has a one year low of $7.90 and a one year high of $143.75.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, research analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal 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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