Alliancebernstein L.P. Invests $1.69 Million in Oklo Inc. (NYSE:OKLO)

Alliancebernstein L.P. bought a new stake in shares of Oklo Inc. (NYSE:OKLO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 79,751 shares of the company’s stock, valued at approximately $1,693,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank bought a new stake in shares of Oklo during the 4th quarter valued at $32,000. Anfield Capital Management LLC purchased a new position in Oklo during the fourth quarter valued at $43,000. AlphaQuest LLC bought a new stake in Oklo during the fourth quarter valued at about $45,000. Kozak & Associates Inc. purchased a new stake in Oklo in the fourth quarter worth about $57,000. Finally, Spire Wealth Management bought a new position in shares of Oklo in the fourth quarter worth about $72,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

Oklo Price Performance

Shares of OKLO opened at $21.99 on Friday. The firm has a market cap of $3.06 billion, a P/E ratio of -2.17 and a beta of -0.01. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $59.14. The company has a 50 day simple moving average of $30.04 and a two-hundred day simple moving average of $26.01.

Oklo (NYSE:OKLO) last posted its earnings results on Monday, March 24th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, sell-side analysts anticipate that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 41,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $21.80, for a total value of $893,800.00. Following the sale, the chief executive officer now owns 10,852,926 shares in the company, valued at approximately $236,593,786.80. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John M. Jansen acquired 6,000 shares of the stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $24.57 per share, with a total value of $147,420.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $147,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on OKLO. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Oklo in a research note on Tuesday, March 25th. BTIG Research assumed coverage on shares of Oklo in a research report on Friday, April 11th. They issued a “neutral” rating for the company. Citigroup reduced their price objective on shares of Oklo from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. B. Riley lifted their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Craig Hallum began coverage on Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

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.