Oklo (NYSE:OKLO) Shares Down 1.2% After Insider Selling

Shares of Oklo Inc. (NYSE:OKLO) were down 1.2% on Wednesday following insider selling activity. The company traded as low as $91.50 and last traded at $95.9260. Approximately 11,423,490 shares changed hands during trading, a decline of 27% from the average daily volume of 15,591,664 shares. The stock had previously closed at $97.09.

Specifically, CEO Jacob Dewitte sold 64,888 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $112.03, for a total transaction of $7,269,402.64. Following the transaction, the chief executive officer directly owned 799,023 shares in the company, valued at $89,514,546.69. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Dewitte sold 26,740 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $111.38, for a total value of $2,978,301.20. Following the sale, the chief executive officer owned 808,197 shares of the company’s stock, valued at approximately $90,016,981.86. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. In related news, CEO Jacob Dewitte sold 3,455 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $100.01, for a total value of $345,534.55. Following the transaction, the chief executive officer directly owned 825,764 shares of the company’s stock, valued at approximately $82,584,657.64. This trade represents a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $106.00 target price on shares of Oklo in a research report on Friday, January 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, November 12th. Zacks Research upgraded shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Wedbush reissued an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Oklo in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Oklo presently has an average rating of “Hold” and a consensus target price of $102.13.

Oklo Stock Performance

The firm’s 50-day simple moving average is $91.83 and its 200-day simple moving average is $93.88. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of -169.54 and a beta of 0.76.

Oklo (NYSE:OKLO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same quarter last year, the business earned ($0.08) EPS. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Institutional Trading of Oklo

A number of hedge funds have recently modified their holdings of OKLO. Plancorp LLC lifted its position in Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock worth $680,000 after purchasing an additional 73 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Oklo by 3.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after buying an additional 94 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Oklo by 1.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock worth $789,000 after acquiring an additional 101 shares during the period. Meriwether Wealth & Planning LLC lifted its holdings in shares of Oklo by 2.7% during the 4th quarter. Meriwether Wealth & Planning LLC now owns 4,545 shares of the company’s stock worth $326,000 after acquiring an additional 120 shares during the period. Finally, Rossby Financial LCC boosted its position in shares of Oklo by 75.0% during the 3rd quarter. Rossby Financial LCC now owns 350 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 85.03% 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.