JPMorgan Chase & Co. Trims Stake in Oklo Inc. (NYSE:OKLO)

JPMorgan Chase & Co. cut its holdings in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 88.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,339 shares of the company's stock after selling 241,699 shares during the quarter. JPMorgan Chase & Co.'s holdings in Oklo were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC purchased a new stake in Oklo in the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Oklo in the third quarter valued at $94,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Oklo in the 3rd quarter valued at $100,000. Sanctuary Advisors LLC acquired a new position in Oklo during the 3rd quarter worth about $100,000. Finally, MML Investors Services LLC acquired a new position in Oklo during the 3rd quarter worth about $104,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on OKLO shares. Craig Hallum started coverage on Oklo in a research report on Tuesday. They issued a "buy" rating and a $44.00 target price for the company. Wedbush upped their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Finally, Citigroup raised their price target on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Oklo currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Insider Buying and Selling

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $21.61, for a total value of $4,982,596.09. Following the sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kinzley acquired 5,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 21.80% of the stock is owned by insiders.

Oklo Price Performance

Shares of Oklo stock opened at $41.74 on Friday. The business has a 50-day simple moving average of $24.77 and a 200-day simple moving average of $16.28. Oklo Inc. has a one year low of $5.35 and a one year high of $45.23.

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.

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