HITE Hedge Asset Management LLC Sells 2,247,161 Shares of Oklo Inc. (NYSE:OKLO)

HITE Hedge Asset Management LLC trimmed its position in Oklo Inc. (NYSE:OKLO - Free Report) by 92.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,469 shares of the company's stock after selling 2,247,161 shares during the quarter. HITE Hedge Asset Management LLC owned 0.16% of Oklo worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after buying an additional 416 shares in the last quarter. Sandy Spring Bank bought a new position in Oklo in the fourth quarter worth $32,000. Covestor Ltd bought a new stake in shares of Oklo during the 4th quarter valued at $34,000. Anfield Capital Management LLC purchased a new stake in shares of Oklo in the 4th quarter worth about $43,000. Finally, AlphaQuest LLC bought a new position in shares of Oklo in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OKLO shares. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. BTIG Research started coverage on Oklo in a report on Friday, April 11th. They issued a "neutral" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday, March 25th. Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Oklo currently has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Insider Buying and Selling at Oklo

In other news, Director John M. Jansen bought 6,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the purchase, the director now owns 6,000 shares in the company, valued at $147,420. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jacob Dewitte sold 35,365 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $25.15, for a total value of $889,429.75. Following the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Oklo Price Performance

Oklo stock traded up $1.42 during mid-day trading on Tuesday, reaching $21.81. 3,739,387 shares of the stock traded hands, compared to its average volume of 11,641,885. The business's 50-day moving average is $28.80 and its 200-day moving average is $26.40. The stock has a market capitalization of $3.03 billion, a PE ratio of -2.15 and a beta of -0.01. Oklo Inc. has a 12-month low of $5.35 and a 12-month high of $59.14.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Monday, March 24th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). Equities analysts anticipate 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.