Sona Asset Management US LLC Sells 15,400 Shares of Oklo Inc. $OKLO

Sona Asset Management US LLC lowered its stake in shares of Oklo Inc. (NYSE:OKLO) by 77.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,600 shares of the company’s stock after selling 15,400 shares during the period. Sona Asset Management US LLC’s holdings in Oklo were worth $228,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in OKLO. Vanguard Group Inc. lifted its holdings in Oklo by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after purchasing an additional 44,036 shares in the last quarter. Van ECK Associates Corp grew its holdings in Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after buying an additional 481,288 shares in the last quarter. State Street Corp increased its position in shares of Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after buying an additional 584,184 shares during the period. Geode Capital Management LLC increased its position in shares of Oklo by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $201,671,000 after buying an additional 185,265 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Oklo by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,160,278 shares of the company’s stock valued at $83,262,000 after buying an additional 90,213 shares during the period. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.42, for a total value of $5,000,202.02. Following the transaction, the chief financial officer owned 397,642 shares of the company’s stock, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the sale, the chief executive officer owned 538,039 shares in the company, valued at approximately $36,742,683.31. This trade represents a 20.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 683,629 shares of company stock valued at $43,902,208 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Oklo Trading Up 4.0%

Shares of OKLO opened at $41.88 on Tuesday. Oklo Inc. has a 12-month low of $39.53 and a 12-month high of $193.84. The company has a market cap of $7.29 billion, a PE ratio of -49.85 and a beta of 1.14. The stock has a 50-day moving average price of $55.13 and a 200-day moving average price of $63.87.

Oklo (NYSE:OKLO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, analysts predict that Oklo Inc. will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays decreased their target price on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. initiated coverage on shares of Oklo in a report on Monday, May 11th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $122.00 price target on shares of Oklo in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.00.

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.