HighTower Advisors LLC Makes New $348,000 Investment in Oklo Inc. (NYSE:OKLO)

HighTower Advisors LLC acquired a new stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,380 shares of the company's stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SPX Gestao de Recursos Ltda bought a new stake in Oklo during the fourth quarter worth $2,123,000. JW Asset Management LLC purchased a new stake in shares of Oklo in the fourth quarter valued at about $318,000. Clare Market Investments LLC bought a new position in shares of Oklo during the fourth quarter valued at about $218,000. Johnson Investment Counsel Inc. purchased a new position in Oklo during the fourth quarter worth about $228,000. Finally, AlphaQuest LLC bought a new stake in Oklo in the 4th quarter worth about $45,000. 85.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 41,000 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the sale, the chief executive officer now directly owns 10,852,926 shares of the company's stock, valued at approximately $236,593,786.80. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John M. Jansen bought 6,000 shares of the stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $24.57 per share, for a total transaction of $147,420.00. Following the completion of the purchase, 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 21.80% of the company's stock.

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Analyst Ratings Changes

Several research firms have commented on OKLO. Citigroup dropped their target price on shares of Oklo from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. B. Riley boosted their price objective on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Craig Hallum initiated coverage on Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $45.00 target price on shares of Oklo in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.25.

Oklo Stock Down 13.5 %

Oklo stock traded down $2.95 during trading on Friday, hitting $18.94. The stock had a trading volume of 12,723,451 shares, compared to its average volume of 11,696,847. The stock's 50 day moving average is $35.27 and its two-hundred day moving average is $24.94. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $59.14. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -1.86 and a beta of -0.28.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

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.