Prudential PLC Acquires New Position in Oklo Inc. $OKLO

Prudential PLC acquired a new stake in Oklo Inc. (NYSE:OKLO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,642 shares of the company’s stock, valued at approximately $1,051,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Daiwa Securities Group Inc. acquired a new stake in shares of Oklo in the fourth quarter valued at about $703,000. TD Asset Management Inc acquired a new stake in shares of Oklo in the fourth quarter valued at about $1,457,000. Cibc World Market Inc. lifted its stake in shares of Oklo by 86.4% in the fourth quarter. Cibc World Market Inc. now owns 4,888 shares of the company’s stock valued at $351,000 after purchasing an additional 2,265 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Oklo by 80.4% in the fourth quarter. CIBC Asset Management Inc now owns 6,814 shares of the company’s stock valued at $489,000 after purchasing an additional 3,036 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Oklo by 35.0% in the fourth quarter. Bank of New York Mellon Corp now owns 510,941 shares of the company’s stock valued at $36,665,000 after purchasing an additional 132,418 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 538,039 shares in the company, valued at approximately $36,742,683.31. The trade was a 20.65% 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, insider William Carroll Murphy Goodwin sold 10,548 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total transaction of $612,205.92. Following the completion of the sale, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. The trade was a 22.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 889,849 shares of company stock worth $55,614,037. 18.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HSBC initiated coverage on shares of Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price objective for the company. Royal Bank Of Canada set a $80.00 target price on shares of Oklo in a research report on Friday, May 22nd. Weiss Ratings upgraded shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group cut their target price on shares of Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. initiated coverage on Oklo in a research report on Monday, May 11th. They set a “neutral” rating and a $83.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Oklo Price Performance

NYSE:OKLO opened at $58.23 on Monday. The firm has a 50 day simple moving average of $62.90 and a 200-day simple moving average of $73.24. The firm has a market cap of $10.13 billion, a PE ratio of -69.31 and a beta of 1.10. Oklo Inc. has a 1-year low of $44.88 and a 1-year high of $193.84.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the company earned ($0.07) earnings per share. As a group, sell-side analysts expect that Oklo Inc. will post -0.78 earnings per share for the current fiscal year.

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.