Oklo (NYSE:OKLO) Stock Price Down 8.7% Following Insider Selling

Oklo Inc. (NYSE:OKLO)’s stock price was down 8.7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $61.68 and last traded at $62.2710. Approximately 11,348,564 shares traded hands during trading, a decline of 19% from the average daily volume of 14,082,623 shares. The stock had previously closed at $68.23.

Specifically, CEO Jacob Dewitte sold 140,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $75.18, for a total transaction of $10,525,200.00. Following the completion of the sale, the chief executive officer directly owned 739,023 shares of the company’s stock, valued at $55,559,749.14. The trade was a 15.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $74.45, for a total value of $4,467,000.00. Following the completion of the transaction, the chief executive officer directly owned 748,197 shares in the company, valued at $55,703,266.65. This trade represents a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, CFO Richard Craig Bealmear sold 9,726 shares of Oklo stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $76.93, for a total value of $748,221.18. Following the transaction, the chief financial officer owned 196,913 shares in the company, valued at approximately $15,148,517.09. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

OKLO has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a report on Thursday, January 22nd. UBS Group restated a “neutral” rating on shares of Oklo in a report on Monday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Oklo in a research report on Wednesday, November 12th. Finally, B. Riley Financial boosted their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.20.

Oklo Price Performance

The company has a market cap of $11.12 billion, a price-to-earnings ratio of -131.78 and a beta of 0.76. The company’s 50-day simple moving average is $87.32 and its 200-day simple moving average is $96.66.

Oklo (NYSE:OKLO) last posted its earnings results 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 period last year, the business earned ($0.08) EPS. Equities analysts predict that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Oklo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after acquiring an additional 44,036 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Oklo by 71.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after purchasing an additional 2,968,981 shares in the last quarter. Van ECK Associates Corp increased its holdings in Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock worth $387,914,000 after purchasing an additional 1,316,867 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Oklo by 195.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after purchasing an additional 1,488,482 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after buying an additional 1,752,946 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.