McAlister Sweet & Associates Inc. Invests $280,000 in Oklo Inc. $OKLO

McAlister Sweet & Associates Inc. bought a new position in shares of Oklo Inc. (NYSE:OKLO) during the second quarter, according to its most recent filing with the SEC. The fund bought 5,000 shares of the company’s stock, valued at approximately $280,000. Oklo accounts for 0.3% of McAlister Sweet & Associates Inc.’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds also recently made changes to their positions in OKLO. CoreCap Advisors LLC bought a new stake in shares of Oklo during the 4th quarter worth $32,000. KBC Group NV bought a new stake in Oklo in the 1st quarter valued at about $36,000. Deutsche Bank AG raised its stake in Oklo by 161.7% in the 1st quarter. Deutsche Bank AG now owns 1,748 shares of the company’s stock valued at $38,000 after acquiring an additional 1,080 shares during the period. Harbour Investments Inc. raised its stake in Oklo by 120.9% in the 1st quarter. Harbour Investments Inc. now owns 1,800 shares of the company’s stock valued at $39,000 after acquiring an additional 985 shares during the period. Finally, Graybill Wealth Management LTD. bought a new stake in Oklo in the 1st quarter valued at about $43,000. 85.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the transaction, the chief executive officer owned 10,105,098 shares of the company’s stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Stuart Klein sold 150,000 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $62.74, for a total value of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares of the company’s stock, valued at $15,685,000. The trade was a 37.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 641,387 shares of company stock valued at $37,967,315 in the last quarter. 18.90% of the stock is currently owned by corporate insiders.

Oklo Stock Up 3.4%

OKLO stock opened at $82.65 on Friday. The firm has a market capitalization of $12.20 billion, a PE ratio of -196.78 and a beta of 0.59. Oklo Inc. has a twelve month low of $6.08 and a twelve month high of $85.35. The stock has a 50-day simple moving average of $70.61 and a two-hundred day simple moving average of $48.08.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). On average, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HC Wainwright boosted their price objective on Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. BNP Paribas upgraded Oklo to a “strong sell” rating in a research note on Friday, July 25th. Bank of America assumed coverage on Oklo in a research note on Tuesday, August 26th. They issued a “buy” rating and a $92.00 price objective on the stock. BTIG Research restated a “neutral” rating on shares of Oklo in a research note on Tuesday, August 12th. Finally, Citigroup boosted their price objective on Oklo from $30.00 to $68.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.45.

Oklo Company 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.