Palumbo Wealth Management LLC Acquires 1,814 Shares of Oklo Inc. (NYSE:OKLO)

Palumbo Wealth Management LLC increased its holdings in shares of Oklo Inc. (NYSE:OKLO) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,160 shares of the company’s stock after buying an additional 1,814 shares during the period. Palumbo Wealth Management LLC’s holdings in Oklo were worth $263,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock valued at $92,216,000 after purchasing an additional 2,090,154 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Oklo in the fourth quarter valued at approximately $2,209,000. Steward Partners Investment Advisory LLC increased its stake in Oklo by 2,386.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,325 shares of the company’s stock valued at $198,000 after purchasing an additional 8,950 shares in the last quarter. Alliancebernstein L.P. bought a new stake in Oklo in the fourth quarter valued at approximately $1,693,000. Finally, Sanctuary Advisors LLC increased its stake in Oklo by 115.9% in the fourth quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company’s stock valued at $565,000 after purchasing an additional 14,272 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

Oklo Stock Down 6.9%

Oklo stock opened at $57.76 on Monday. The stock has a market capitalization of $8.06 billion, a PE ratio of -10.68 and a beta of 0.57. Oklo Inc. has a twelve month low of $5.35 and a twelve month high of $73.55. The company has a 50 day moving average of $39.76 and a 200-day moving average of $33.29.

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

Insider Buying and Selling at Oklo

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

Analysts Set New Price Targets

Several brokerages have commented on OKLO. William Blair began coverage on shares of Oklo in a research note on Wednesday, May 28th. They issued an “outperform” rating for the company. BTIG Research began coverage on shares of Oklo in a research note on Friday, April 11th. They issued a “neutral” rating for the company. Seaport Res Ptn raised shares of Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Citigroup reiterated a “neutral” rating on shares of Oklo in a report on Wednesday, May 14th. Finally, HC Wainwright started coverage on shares of Oklo in a report on Wednesday, April 23rd. They issued a “buy” rating and a $55.00 price target for the company. Two 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.