Formula Growth Ltd. Lowers Stock Position in Oklo Inc. (NYSE:OKLO)

Formula Growth Ltd. decreased its position in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 92.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,831 shares of the company's stock after selling 147,169 shares during the period. Formula Growth Ltd.'s holdings in Oklo were worth $272,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of OKLO. Sandy Spring Bank acquired a new stake in Oklo in the 4th quarter valued at about $32,000. Covestor Ltd acquired a new stake in Oklo in the fourth quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in Oklo in the fourth quarter worth approximately $43,000. AlphaQuest LLC acquired a new position in Oklo during the 4th quarter worth approximately $45,000. Finally, Kozak & Associates Inc. purchased a new stake in shares of Oklo in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Insider Activity at Oklo

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Oklo in a research report on Wednesday. They set a "buy" rating and a $55.00 price objective for the company. B. Riley upped their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. BTIG Research began coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush restated an "outperform" rating and set a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. Finally, Citigroup dropped their price target on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.40.

Oklo Trading Up 9.2 %

Shares of Oklo stock traded up $1.99 on Wednesday, hitting $23.52. The stock had a trading volume of 12,141,670 shares, compared to its average volume of 11,669,170. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -2.32 and a beta of -0.01. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $59.14. The company's 50 day moving average price is $28.13 and its 200 day moving average price is $26.37.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). Analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Oklo Company 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.