Sovereign Financial Group Inc. Purchases Shares of 21,719 Oklo Inc. (NYSE:OKLO)

Sovereign Financial Group Inc. purchased a new stake in Oklo Inc. (NYSE:OKLO) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 21,719 shares of the company’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the third quarter worth about $6,493,000. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo in the third quarter worth about $19,753,000. State Street Corp purchased a new position in shares of Oklo in the third quarter worth about $2,889,000. DRW Securities LLC purchased a new position in shares of Oklo in the third quarter worth about $404,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Oklo in the third quarter worth about $104,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several research analyst reports. Citigroup raised their price objective on Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Wedbush initiated coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, B. Riley initiated coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price on the stock.

Insider Buying and Selling at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $19.95 per share, with a total value of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $99,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Oklo Price Performance

Shares of OKLO opened at $24.20 on Thursday. Oklo Inc. has a 12 month low of $5.35 and a 12 month high of $31.91. The stock’s 50 day moving average is $22.44 and its two-hundred day moving average is $14.33.

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.