Newbridge Financial Services Group Inc. Purchases 6,712 Shares of Oklo Inc. $OKLO

Newbridge Financial Services Group Inc. raised its holdings in shares of Oklo Inc. (NYSE:OKLO) by 87.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,362 shares of the company’s stock after acquiring an additional 6,712 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Oklo were worth $804,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Black Swift Group LLC bought a new stake in Oklo in the second quarter valued at $280,000. Bouvel Investment Partners LLC purchased a new position in shares of Oklo in the 2nd quarter worth about $2,263,000. Prospera Financial Services Inc grew its holdings in shares of Oklo by 10.0% during the second quarter. Prospera Financial Services Inc now owns 51,435 shares of the company’s stock valued at $2,880,000 after buying an additional 4,678 shares during the last quarter. Strs Ohio bought a new position in Oklo in the 2nd quarter valued at approximately $1,069,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of Oklo during the second quarter valued at $738,000. 85.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Stuart Klein sold 50,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company’s stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the transaction, the chief financial officer directly owned 75,738 shares in the company, valued at $7,098,922.74. This represents a 54.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 467,800 shares of company stock valued at $51,531,823. Insiders own 18.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OKLO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a report on Wednesday, November 12th. Canaccord Genuity Group started coverage on shares of Oklo in a research report on Thursday, October 9th. They set a “buy” rating and a $175.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Oklo in a report on Thursday, September 25th. They issued a “neutral” rating and a $117.00 target price on the stock. Needham & Company LLC assumed coverage on shares of Oklo in a research note on Friday, December 5th. They set a “buy” rating and a $135.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Oklo currently has an average rating of “Hold” and an average target price of $102.87.

Oklo Price Performance

Shares of OKLO stock opened at $87.63 on Monday. The company has a market cap of $13.69 billion, a price-to-earnings ratio of -162.28 and a beta of 0.73. Oklo Inc. has a 1 year low of $17.14 and a 1 year high of $193.84. The firm has a fifty day moving average price of $118.14 and a 200-day moving average price of $89.61.

Oklo (NYSE:OKLO) last released its earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

About Oklo

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.