Oklo (NYSE:OKLO) Stock Price Down 1.9% Following Insider Selling

Shares of Oklo Inc. (NYSE:OKLO) dropped 1.9% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $80.79 and last traded at $81.8740. Approximately 6,560,515 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 17,866,910 shares. The stock had previously closed at $83.44.

Specifically, CEO Jacob Dewitte sold 840,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total transaction of $69,148,800.00. Following the completion of the sale, the chief executive officer owned 1,580,000 shares in the company, valued at $130,065,600. This represents a 34.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Craig Bealmear sold 5,159 shares of Oklo stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $76.97, for a total value of $397,088.23. Following the completion of the sale, the chief financial officer directly owned 196,913 shares in the company, valued at $15,156,393.61. This represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. In other news, CFO Richard Craig Bealmear sold 69,841 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total value of $5,475,534.40. Following the completion of the sale, the chief financial officer directly owned 202,072 shares of the company’s stock, valued at $15,842,444.80. This trade represents a 25.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several research firms recently weighed in on OKLO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 price objective on shares of Oklo in a research note on Wednesday, November 12th. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Seaport Res Ptn raised Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research report on Wednesday, October 8th. Finally, Citigroup restated a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.87.

Oklo Trading Down 0.9%

The stock has a market cap of $12.67 billion, a price-to-earnings ratio of -150.19 and a beta of 0.73. The firm’s 50 day moving average is $106.96 and its two-hundred day moving average is $91.04.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period in the prior year, the business earned ($0.08) EPS. As a group, equities analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Plancorp LLC grew its position in shares of Oklo by 1.2% in the third quarter. Plancorp LLC now owns 6,089 shares of the company’s stock valued at $680,000 after purchasing an additional 73 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Oklo by 3.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,622 shares of the company’s stock valued at $293,000 after acquiring an additional 94 shares during the last quarter. Prestige Wealth Management Group LLC grew its holdings in Oklo by 1.5% in the third quarter. Prestige Wealth Management Group LLC now owns 7,066 shares of the company’s stock valued at $789,000 after purchasing an additional 101 shares during the period. Rossby Financial LCC raised its stake in Oklo by 75.0% during the third quarter. Rossby Financial LCC now owns 350 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Finally, Perennial Investment Advisors LLC grew its stake in shares of Oklo by 3.4% during the 3rd quarter. Perennial Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $522,000 after buying an additional 154 shares during the period. 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.