Oklo (NYSE:OKLO) Trading Down 5.5% Following Insider Selling

Oklo Inc. (NYSE:OKLO) shares fell 5.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $59.07 and last traded at $62.01. 9,749,068 shares were traded during trading, a decline of 12% from the average session volume of 11,105,143 shares. The stock had previously closed at $65.65.

Specifically, CEO Jacob Dewitte sold 139,999 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $63.59, for a total value of $8,902,536.41. Following the sale, the chief executive officer owned 679,024 shares of the company’s stock, valued at approximately $43,179,136.16. This trade represents a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 60,001 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $62.60, for a total value of $3,756,062.60. Following the transaction, the chief executive officer owned 688,196 shares of the company’s stock, valued at $43,081,069.60. This represents a 8.02% decrease in their position. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of research firms have issued reports on OKLO. B. Riley Financial raised their target price on Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $111.00 to $127.00 in a research report on Wednesday, January 21st. UBS Group restated a “neutral” rating on shares of Oklo in a research report on Monday, January 12th. Zacks Research cut Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.93.

Oklo Price Performance

The firm has a market cap of $9.12 billion, a PE ratio of -108.06 and a beta of 0.80. The business has a fifty day moving average price of $77.62 and a two-hundred day moving average price of $95.45.

Institutional Investors Weigh In On Oklo

Institutional investors have recently bought and sold shares of the business. NBC Securities Inc. lifted its position in shares of Oklo by 75.0% in the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Oklo by 356.3% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after purchasing an additional 285 shares during the period. Armstrong Advisory Group Inc. purchased a new position in Oklo during the third quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new position in Oklo during the second quarter valued at approximately $28,000. Finally, Gables Capital Management Inc. acquired a new position in Oklo in the 3rd quarter valued at approximately $28,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.