Norges Bank Invests $73.79 Million in Oklo Inc. $OKLO

Norges Bank acquired a new position in Oklo Inc. (NYSE:OKLO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,028,227 shares of the company’s stock, valued at approximately $73,786,000. Norges Bank owned approximately 0.66% of Oklo at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. increased its stake in shares of Oklo by 75.0% in the 4th quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Oklo by 356.3% in the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares in the last quarter. Gables Capital Management Inc. purchased a new stake in shares of Oklo in the 3rd quarter worth $28,000. Nemes Rush Group LLC purchased a new stake in shares of Oklo in the 3rd quarter worth $28,000. Finally, CI Investments Inc. increased its stake in shares of Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock worth $33,000 after purchasing an additional 179 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKLO has been the subject of several analyst reports. Tigress Financial initiated coverage on Oklo in a research note on Monday, April 27th. They issued a “buy” rating and a $130.00 price objective for the company. Needham & Company LLC cut their price target on Oklo from $135.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. HSBC initiated coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Canaccord Genuity Group cut their price target on Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.06.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $4,097,400.00. Following the completion of the sale, the chief executive officer owned 571,533 shares of the company’s stock, valued at $39,029,988.57. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 892,669 shares of company stock valued at $55,773,903 over the last 90 days. Insiders own 18.90% of the company’s stock.

Oklo Trading Down 11.0%

Shares of NYSE:OKLO opened at $58.23 on Friday. Oklo Inc. has a 12 month low of $44.88 and a 12 month high of $193.84. The company has a 50-day moving average price of $62.90 and a 200 day moving average price of $73.40. The company has a market cap of $10.13 billion, a price-to-earnings ratio of -69.31 and a beta of 1.10.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the prior year, the company posted ($0.07) earnings per share. As a group, equities analysts forecast that Oklo Inc. will post -0.78 EPS for the current year.

Oklo Company Profile

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.