Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Oklo Inc. $OKLO

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Oklo Inc. (NYSE:OKLO) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 19,500 shares of the company’s stock, valued at approximately $2,177,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Plancorp LLC boosted its position in shares of Oklo by 1.2% during the 3rd quarter. Plancorp LLC now owns 6,089 shares of the company’s stock valued at $680,000 after acquiring an additional 73 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Oklo by 3.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after purchasing an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Oklo by 1.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after buying an additional 101 shares during the period. Rossby Financial LCC increased its holdings in shares of Oklo by 75.0% during the 3rd quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Finally, Howard Financial Services LTD. raised its position in shares of Oklo by 3.8% during the 3rd quarter. Howard Financial Services LTD. now owns 4,333 shares of the company’s stock valued at $484,000 after buying an additional 158 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Texas Capital upgraded Oklo to a “strong-buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $106.00 price target on shares of Oklo in a report on Friday, January 9th. Bank of America raised Oklo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and an average target price of $98.93.

Insiders Place Their Bets

In other news, CFO Richard Craig Bealmear sold 9,726 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $76.93, for a total value of $748,221.18. Following the sale, the chief financial officer directly owned 196,913 shares in the company, valued at approximately $15,148,517.09. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 60,000 shares of Oklo stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $74.45, for a total value of $4,467,000.00. Following the completion of the transaction, the chief executive officer owned 748,197 shares of the company’s stock, valued at approximately $55,703,266.65. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,744,726 shares of company stock worth $151,549,790 in the last ninety days. Corporate insiders own 18.90% of the company’s stock.

Oklo Stock Down 2.3%

Shares of OKLO opened at $63.20 on Wednesday. Oklo Inc. has a fifty-two week low of $17.42 and a fifty-two week high of $193.84. The firm’s 50 day moving average price is $78.68 and its 200 day moving average price is $95.97. The company has a market cap of $9.88 billion, a P/E ratio of -117.04 and a beta of 0.80.

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.