Park Avenue Securities LLC Acquires New Position in Oklo Inc. (NYSE:OKLO)

Park Avenue Securities LLC acquired a new stake in Oklo Inc. (NYSE:OKLO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,283 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo during the 4th quarter valued at approximately $32,000. Covestor Ltd purchased a new position in shares of Oklo during the 4th quarter worth approximately $34,000. Finally, Anfield Capital Management LLC purchased a new position in shares of Oklo during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Analysts Set New Price Targets

OKLO has been the subject of a number of recent research reports. William Blair initiated coverage on shares of Oklo in a research note on Wednesday, May 28th. They set an “outperform” rating for the company. Wedbush lifted their target price on shares of Oklo from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Seaport Res Ptn raised shares of Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. BTIG Research started coverage on shares of Oklo in a research note on Friday, April 11th. They issued a “neutral” rating for the company. Finally, Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Oklo Stock Down 1.2%

Shares of NYSE OKLO opened at $63.69 on Monday. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $71.00. The firm has a fifty day moving average of $35.82 and a 200-day moving average of $31.87. The stock has a market capitalization of $8.89 billion, a PE ratio of -11.77 and a beta of 0.58.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Equities research analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John M. Jansen acquired 6,000 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 35,365 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were 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 owns 11,033,561 shares in the company, valued at approximately $277,494,059.15. This trade represents a 0.32% decrease in their position. The disclosure for this sale can be found here. 18.90% of the stock is owned by corporate insiders.

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.