Palumbo Wealth Management LLC Makes New Investment in Oklo Inc. (NYSE:OKLO)

Palumbo Wealth Management LLC purchased a new position in shares of Oklo Inc. (NYSE:OKLO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,346 shares of the company’s stock, valued at approximately $220,000.

Other large investors also recently modified their holdings of the company. Kozak & Associates Inc. acquired a new stake in shares of Oklo in the 4th quarter valued at about $57,000. Barclays PLC bought a new position in Oklo in the third quarter worth approximately $58,000. Spire Wealth Management acquired a new stake in Oklo in the fourth quarter valued at approximately $72,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the third quarter valued at approximately $94,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of Oklo during the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Stock Performance

OKLO opened at $52.56 on Friday. Oklo Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $59.14. The firm has a 50-day moving average of $31.00 and a 200 day moving average of $19.53.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKLO. Wedbush raised their price objective on shares of Oklo from $26.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Citigroup raised their price target on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Finally, B. Riley raised their target price on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.50.

Insider Activity

In other news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $21.61, for a total value of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kinzley purchased 5,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,750. This trade represents 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.

Oklo Profile

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.