Meitav Investment House Ltd. Acquires Shares of 14,700 Oklo Inc. $OKLO

Meitav Investment House Ltd. bought a new position in shares of Oklo Inc. (NYSE:OKLO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,700 shares of the company’s stock, valued at approximately $729,000.

Several other hedge funds also recently made changes to their positions in the business. DNB Asset Management AS increased its position in shares of Oklo by 151.7% in the fourth quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock worth $2,054,000 after purchasing an additional 17,253 shares during the period. Van ECK Associates Corp lifted its position in Oklo by 61.0% during the third quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Oklo by 109.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,237 shares of the company’s stock worth $24,774,000 after buying an additional 180,377 shares in the last quarter. Prakash Investment Advisors LLC acquired a new stake in Oklo during the fourth quarter worth about $1,246,000. Finally, M&T Bank Corp increased its holdings in Oklo by 740.6% in the 4th quarter. M&T Bank Corp now owns 22,638 shares of the company’s stock valued at $1,625,000 after buying an additional 19,945 shares during the period. 85.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent analyst reports. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a report on Wednesday, March 18th. Canaccord Genuity Group lowered their price objective on shares of Oklo from $175.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 target price on shares of Oklo in a research note on Wednesday, May 13th. Needham & Company LLC reduced their target price on Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $110.00 price target on shares of Oklo in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.18.

Insider Activity

In other Oklo news, CFO Richard Craig Bealmear sold 73,081 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total value of $5,000,202.02. Following the completion of the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total value of $9,560,600.00. Following the completion of the transaction, the chief executive officer owned 538,039 shares of the company’s stock, valued at $36,742,683.31. This represents a 20.65% 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. In the last ninety days, insiders sold 623,629 shares of company stock worth $40,734,208. Insiders own 18.90% of the company’s stock.

Oklo Trading Down 7.8%

Shares of Oklo stock opened at $47.82 on Wednesday. The firm has a market capitalization of $8.32 billion, a PE ratio of -56.93 and a beta of 1.14. The firm’s 50 day moving average is $62.38 and its 200 day moving average is $67.35. Oklo Inc. has a 1 year low of $44.88 and a 1 year high of $193.84.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that Oklo Inc. will post -0.73 earnings per share for the current year.

About Oklo

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.