HighTower Advisors LLC Acquires New Stake in Oklo Inc. (NYSE:OKLO)

HighTower Advisors LLC bought a new stake in Oklo Inc. (NYSE:OKLO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,380 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKLO. Anfield Capital Management LLC purchased a new position in Oklo during the fourth quarter worth approximately $43,000. AlphaQuest LLC acquired a new stake in shares of Oklo during the 4th quarter worth $45,000. Kozak & Associates Inc. purchased a new position in shares of Oklo in the 4th quarter worth $57,000. Spire Wealth Management acquired a new position in Oklo in the fourth quarter valued at $72,000. Finally, Wolff Wiese Magana LLC purchased a new stake in Oklo during the fourth quarter valued at about $99,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Craig Hallum started coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. B. Riley upped their target price on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 target price on shares of Oklo in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Oklo Trading Up 4.2 %

NYSE OKLO opened at $22.55 on Wednesday. The company has a 50-day moving average price of $35.83 and a two-hundred day moving average price of $24.97. Oklo Inc. has a 52 week low of $5.35 and a 52 week high of $59.14. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -2.23 and a beta of -0.28.

Oklo (NYSE:OKLO) last released its earnings results 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). As a group, equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jacob Dewitte sold 35,365 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $25.15, for a total transaction of $889,429.75. Following the completion of the sale, the chief executive officer now directly owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Jansen purchased 6,000 shares of Oklo stock in a transaction dated Thursday, March 27th. The shares were purchased at an average price 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 in the company, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

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.