Truist Financial Corp Invests $227,000 in Oklo Inc. (NYSE:OKLO)

Truist Financial Corp acquired a new stake in Oklo Inc. (NYSE:OKLO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,675 shares of the company's stock, valued at approximately $227,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC acquired a new stake in shares of Oklo in the 3rd quarter worth $19,753,000. Van ECK Associates Corp acquired a new stake in shares of Oklo in the 4th quarter worth $38,661,000. Atomi Financial Group Inc. acquired a new stake in shares of Oklo in the 4th quarter worth $19,285,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the 3rd quarter worth $6,493,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Oklo in the 3rd quarter worth $6,193,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Stock Performance

Oklo stock traded up $0.29 during midday trading on Friday, reaching $26.26. 12,012,151 shares of the stock traded hands, compared to its average volume of 19,357,191. The company has a 50-day simple moving average of $35.61 and a two-hundred day simple moving average of $22.61. Oklo Inc. has a 12-month low of $5.35 and a 12-month high of $59.14.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup raised their target price on Oklo from $10.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Wedbush increased their price target on Oklo from $26.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. B. Riley increased their price target on Oklo from $27.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Craig Hallum assumed coverage on Oklo in a report on Tuesday, January 28th. They set a "buy" rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Oklo has an average rating of "Moderate Buy" and a consensus price target of $44.50.

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Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 230,569 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.80% of the stock is currently owned by company insiders.

About Oklo

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.