Hsbc Holdings PLC Grows Stake in Oklo Inc. $OKLO

Hsbc Holdings PLC lifted its position in Oklo Inc. (NYSE:OKLO) by 1,184.4% during the 4th quarter, HoldingsChannel reports. The firm owned 112,372 shares of the company’s stock after buying an additional 103,623 shares during the period. Hsbc Holdings PLC’s holdings in Oklo were worth $8,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKLO. Royal Bank of Canada boosted its stake in Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after buying an additional 57,497 shares during the period. AQR Capital Management LLC bought a new position in Oklo in the 1st quarter worth about $519,000. Millennium Management LLC increased its stake in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after acquiring an additional 570,532 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after acquiring an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Oklo by 90.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock valued at $2,439,000 after acquiring an additional 53,703 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Stock Performance

Shares of OKLO opened at $50.06 on Friday. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of -59.60 and a beta of 1.10. Oklo Inc. has a fifty-two week low of $44.88 and a fifty-two week high of $193.84. The firm has a 50 day moving average price of $64.76 and a 200-day moving average price of $69.53.

Oklo (NYSE:OKLO) last announced its quarterly earnings data 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 firm posted ($0.07) earnings per share. As a group, equities research analysts predict that Oklo Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the company’s stock in a transaction dated 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 directly owned 36,175 shares in the company, valued at $2,099,597. This represents a 22.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 140,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 538,039 shares in the company, valued at $36,742,683.31. This trade represents a 20.65% decrease in their ownership of the stock. 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 699,971 shares of company stock worth $44,221,357 over the last three months. Company insiders own 18.90% of the company’s stock.

Analysts Set New Price Targets

OKLO has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on shares of Oklo in a research note on Monday, May 11th. They issued a “neutral” rating and a $83.00 target price on the stock. Guggenheim began coverage on shares of Oklo in a research report on Thursday. They set a “neutral” rating for the company. UBS Group cut their price target on shares of Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, Weiss Ratings raised shares of Oklo from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.18.

Oklo 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.