Rakuten Securities Inc. Invests $137,000 in Oklo Inc. (NYSE:OKLO)

Rakuten Securities Inc. bought 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. The firm bought 6,313 shares of the company’s stock, valued at approximately $137,000.

Several other hedge funds also recently made changes to their positions in OKLO. Sanctuary Advisors LLC boosted its stake in Oklo by 115.9% during the fourth quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company’s stock worth $565,000 after acquiring an additional 14,272 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Oklo during the fourth quarter valued at approximately $227,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Oklo in the 4th quarter worth approximately $240,000. TimesSquare Capital Management LLC bought a new stake in shares of Oklo in the 4th quarter worth approximately $17,104,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Oklo in the 4th quarter worth approximately $2,839,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Trading Down 4.0%

OKLO opened at $62.81 on Wednesday. The company’s 50 day moving average is $37.50 and its 200 day moving average is $32.37. The company has a market cap of $8.76 billion, a price-to-earnings ratio of -11.61 and a beta of 0.58. Oklo Inc. has a 12-month low of $5.35 and a 12-month high of $73.55.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. As a group, analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKLO. Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. BTIG Research started coverage on Oklo in a report on Friday, April 11th. They set a “neutral” rating for the company. William Blair began coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an “outperform” rating on the stock. Wedbush set a $75.00 target price on shares of Oklo and gave the stock an “outperform” rating in a report on Thursday, June 12th. Finally, Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Insider Activity at Oklo

In other news, Director John M. Jansen acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $24.57 per share, for a total transaction of $147,420.00. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 35,365 shares of Oklo stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $25.15, for a total transaction of $889,429.75. Following the transaction, 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 company insiders.

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.