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

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

Specifically, CEO Jacob Dewitte sold 3,455 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $100.01, for a total transaction of $345,534.55. Following the sale, the chief executive officer owned 825,764 shares in the company, valued at $82,584,657.64. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jacob Dewitte sold 1,255 shares of Oklo stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $100.00, for a total value of $125,500.00. Following the completion of the transaction, the chief executive officer owned 834,937 shares of the company’s stock, valued at approximately $83,493,700. This trade represents a 0.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In related news, CEO Jacob Dewitte sold 231,657 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $99.25, for a total transaction of $22,991,957.25. Following the sale, the chief executive officer owned 827,019 shares of the company’s stock, valued at approximately $82,081,635.75. This represents a 21.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Canaccord Genuity Group assumed coverage on Oklo in a report on Thursday, October 9th. They set a “buy” rating and a $175.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 target price on shares of Oklo in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. B. Riley boosted their price target on shares of Oklo from $58.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Bank of America decreased their price target on shares of Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Oklo has an average rating of “Hold” and a consensus target price of $102.13.

Oklo Stock Performance

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

Oklo (NYSE:OKLO) last released 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 quarter last year, the company earned ($0.08) earnings per share. Equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oklo

Institutional investors have recently modified their holdings of the company. Caldwell Sutter Capital Inc. bought a new stake in shares of Oklo in the 2nd quarter worth approximately $25,000. Private Trust Co. NA bought a new stake in Oklo in the second quarter worth $25,000. Fourth Dimension Wealth LLC lifted its stake in Oklo by 125.0% in the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company’s stock worth $25,000 after purchasing an additional 250 shares during the last quarter. GAMMA Investing LLC boosted its position in Oklo by 356.3% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock valued at $26,000 after buying an additional 285 shares during the period. Finally, Armstrong Advisory Group Inc. bought a new position in shares of Oklo during the third quarter valued at about $27,000. 85.03% of the stock is currently owned by institutional investors.

About Oklo

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.