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

Sona Asset Management US LLC lowered its position in Oklo Inc. (NYSE:OKLO) by 77.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 and other institutional investors have also added to or reduced their stakes in OKLO. Royal Bank of Canada increased its stake in Oklo by 162.6% in the 1st 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 last quarter. AQR Capital Management LLC purchased a new position in shares of Oklo in the 1st quarter worth approximately $519,000. Millennium Management LLC grew its holdings in shares of Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Oklo by 165.6% in the first 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 increased its position in shares of Oklo by 90.9% during the first 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 during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on OKLO shares. Citigroup lifted their price target on Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Tigress Financial initiated coverage on Oklo in a research report on Monday, April 27th. They set a “buy” rating and a $130.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $110.00 target price on shares of Oklo in a research note on Tuesday, May 26th. Royal Bank Of Canada set a $80.00 price target on shares of Oklo in a report on Friday, May 22nd. Finally, HSBC assumed coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a “buy” rating and a $96.00 price target for the company. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, Oklo has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Oklo Price Performance

NYSE:OKLO opened at $41.88 on Tuesday. The business has a fifty day simple moving average of $55.13 and a two-hundred day simple moving average of $63.87. Oklo Inc. has a 1 year low of $39.53 and a 1 year high of $193.84. The company has a market capitalization of $7.29 billion, a P/E ratio of -49.85 and a beta of 1.14.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the firm posted ($0.07) EPS. As a group, analysts anticipate that Oklo Inc. will post -0.74 earnings per share for the current year.

Insider Activity at Oklo

In other Oklo news, insider William Carroll Murphy Goodwin sold 10,548 shares of the 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 transaction, the insider owned 36,175 shares in the company, valued at $2,099,597. This trade represents a 22.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the transaction, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 683,629 shares of company stock worth $43,902,208. Company insiders own 12.70% of the company’s stock.

Oklo Company 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.