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

Norges Bank bought a new position in shares of Oklo Inc. (NYSE:OKLO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,028,227 shares of the company’s stock, valued at approximately $73,786,000.

A number of other institutional investors have also modified their holdings of the stock. Prestige Wealth Management Group LLC increased its position in shares of Oklo by 1.5% during the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock worth $789,000 after acquiring an additional 101 shares during the period. Meriwether Wealth & Planning LLC increased its position in shares of Oklo by 2.7% during the fourth quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock worth $326,000 after acquiring an additional 120 shares during the period. Rossby Financial LCC increased its position in shares of Oklo by 75.0% during the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the period. NBC Securities Inc. increased its position in shares of Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Finally, Perennial Investment Advisors LLC increased its position in shares of Oklo by 3.4% during the third quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $522,000 after acquiring an additional 154 shares during the period. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Stock Down 11.0%

Shares of OKLO stock opened at $58.23 on Friday. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of -69.31 and a beta of 1.10. The company’s 50 day moving average is $62.90 and its 200 day moving average is $73.40. Oklo Inc. has a 52-week low of $44.88 and a 52-week high of $193.84.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the previous year, the business earned ($0.07) EPS. Analysts anticipate that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of Oklo stock in a transaction on Friday, May 1st. The shares were sold at an average price of $70.50, for a total value of $9,870,000.00. Following the transaction, the chief executive officer directly owned 598,039 shares of the company’s stock, valued at approximately $42,161,749.50. The trade was a 18.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Craig Bealmear sold 73,081 shares of Oklo stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. This 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 892,669 shares of company stock worth $55,773,903 over the last ninety days. Corporate insiders own 18.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKLO. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Oklo in a research report on Wednesday, March 18th. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. UBS Group cut their price objective on shares of Oklo from $95.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Barclays cut their price objective on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Finally, B. Riley Financial cut their price objective on shares of Oklo from $129.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.06.

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.