Van ECK Associates Corp Buys New Shares in Oklo Inc. (NYSE:OKLO)

Van ECK Associates Corp purchased a new position in shares of Oklo Inc. (NYSE:OKLO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,821,068 shares of the company’s stock, valued at approximately $38,661,000. Van ECK Associates Corp owned 1.49% of Oklo as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. acquired a new position in Oklo during the third quarter valued at approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the 3rd quarter valued at approximately $19,753,000. Atomi Financial Group Inc. bought a new stake in shares of Oklo in the fourth quarter worth $19,285,000. Archford Capital Strategies LLC acquired a new stake in shares of Oklo in the 4th quarter valued at about $212,000. Finally, Barclays PLC acquired a new stake in Oklo during the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 230,569 shares of Oklo stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 21.80% of the company’s stock.

Oklo Price Performance

Oklo stock opened at $55.05 on Friday. Oklo Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $59.14. The firm’s 50 day simple moving average is $29.69 and its 200-day simple moving average is $18.90.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of recent research reports. B. Riley raised their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup increased their price target on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Craig Hallum started coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Wedbush boosted their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.50.

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.