Palumbo Wealth Management LLC Decreases Stake in Oklo Inc. $OKLO

Palumbo Wealth Management LLC lessened its stake in shares of Oklo Inc. (NYSE:OKLO) by 68.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,892 shares of the company’s stock after selling 8,318 shares during the period. Palumbo Wealth Management LLC’s holdings in Oklo were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKLO. Patten Group Inc. acquired a new stake in shares of Oklo during the third quarter worth $331,000. Lake Street Private Wealth LLC acquired a new position in shares of Oklo in the 3rd quarter valued at $244,000. Insight Advisors LLC PA purchased a new position in Oklo in the 3rd quarter worth $235,000. Quantum Private Wealth LLC acquired a new stake in Oklo during the 3rd quarter worth about $787,000. Finally, Rossby Financial LCC grew its stake in Oklo by 75.0% during the 3rd quarter. Rossby Financial LCC now owns 350 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Trading Down 0.9%

Shares of OKLO stock opened at $63.23 on Tuesday. Oklo Inc. has a twelve month low of $17.42 and a twelve month high of $193.84. The stock has a market cap of $9.88 billion, a P/E ratio of -117.09 and a beta of 0.76. The stock has a 50 day moving average of $80.58 and a 200 day moving average of $96.37.

Insider Activity at Oklo

In related news, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the sale, the chief executive officer owned 1,580,000 shares in the company, valued at approximately $130,065,600. This trade represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 69,841 shares of Oklo stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the transaction, the chief financial officer directly owned 202,072 shares of the company’s stock, valued at $15,842,444.80. The trade was a 25.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,750,590 shares of company stock valued at $152,068,284. Insiders own 18.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. B. Riley Financial lifted their target price on Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Barclays reiterated an “overweight” rating and issued a $82.00 price target on shares of Oklo in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Finally, Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.00 to $127.00 in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.93.

About Oklo

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.