Oklo (NYSE:OKLO) Stock Price Down 2.7% After Insider Selling

Oklo Inc. (NYSE:OKLO) fell 2.7% during trading on Monday after an insider sold shares in the company. The stock traded as low as $100.37 and last traded at $102.47. 11,943,273 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 17,013,043 shares. The stock had previously closed at $105.31.

Specifically, CEO Jacob Dewitte sold 3,455 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 1,255 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $100.00, for a total transaction of $125,500.00. Following the sale, the chief executive officer directly owned 834,937 shares of the company’s stock, valued at approximately $83,493,700. The trade was a 0.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Jacob Dewitte sold 231,657 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $99.25, for a total value of $22,991,957.25. Following the transaction, the chief executive officer owned 827,019 shares of the company’s stock, valued at approximately $82,081,635.75. This trade represents a 21.88% decrease in their position. 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 a number of recent research reports. UBS Group reissued a “neutral” rating on shares of Oklo in a report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a research report on Wednesday, October 8th. Canaccord Genuity Group assumed coverage on Oklo in a research note on Thursday, October 9th. They set a “buy” rating and a $175.00 price objective on the stock. Bank of America reduced their target price on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Finally, Wedbush reiterated an “outperform” rating on shares of Oklo in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.13.

Oklo Price Performance

The stock’s 50 day simple moving average is $93.42 and its two-hundred day simple moving average is $93.26. The stock has a market capitalization of $16.01 billion, a PE ratio of -189.76 and a beta of 0.76.

Oklo (NYSE:OKLO) last posted its quarterly 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 in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts predict that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Oklo by 71.8% in 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 acquiring an additional 2,968,981 shares during the period. Vanguard Group Inc. increased its stake in shares of Oklo by 33.4% in the third quarter. Vanguard Group Inc. now owns 11,593,468 shares of the company’s stock worth $1,294,179,000 after purchasing an additional 2,901,909 shares in the last quarter. State Street Corp raised its position in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company’s stock valued at $119,743,000 after purchasing an additional 1,752,946 shares during the period. Geode Capital Management LLC lifted its stake in shares of Oklo by 195.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Oklo by 61.0% during the 3rd quarter. Van ECK Associates Corp now owns 3,474,993 shares of the company’s stock valued at $387,914,000 after buying an additional 1,316,867 shares in the last quarter. Hedge funds and other 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.