Oklo (NYSE:OKLO) CEO Sells $2,933,600.00 in Stock

Oklo Inc. (NYSE:OKLO) CEO Jacob DeWitte sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $36.67, for a total transaction of $2,933,600.00. Following the sale, the chief executive officer owned 358,039 shares in the company, valued at $13,129,290.13. The trade was a 18.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jacob Dewitte also recently made the following trade(s):

• On Thursday, October 1st, Jacob DeWitte sold 40,000 shares of Oklo stock. The stock was sold at an average price of $36.19, for a total transaction of $1,447,600.00.
• On Tuesday, September 1st, Jacob DeWitte sold 80,000 shares of Oklo stock. The stock was sold at an average price of $38.69, for a total transaction of $3,095,200.00.
• On Tuesday, September 1st, Jacob DeWitte sold 40,000 shares of Oklo stock. The shares were sold at an average price of $38.40, for a total transaction of $1,536,000.00.

Oklo Price Performance

Shares of OKLO traded up $0.13 during midday trading on Monday, reaching $36.00. The stock had a trading volume of 7,606,479 shares, compared to its average volume of 11,164,261. The company has a market cap of $6.70 billion, a price-to-earnings ratio of -38.30 and a beta of 1.20. The company’s fifty day simple moving average is $40.65 and its two-hundred day simple moving average is $51.88. Oklo Inc. has a 1-year low of $34.38 and a 1-year high of $193.84.

Oklo (NYSE:OKLO) last issued its earnings results on Friday, August 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. The company’s quarterly revenue was up 11900.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. On average, sell-side analysts forecast that Oklo Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

OKLO has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Oklo in a research note on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Oklo in a report on Monday, August 10th. Truist Financial set a $51.00 target price on shares of Oklo in a research report on Monday, September 28th. Piper Sandler reissued an “overweight” rating on shares of Oklo in a research report on Thursday. Finally, Guggenheim initiated coverage on shares of Oklo in a research note on Thursday, June 25th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.44.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI increased its stake in Oklo by 1.0% in the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company’s stock valued at $928,000 after purchasing an additional 182 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Oklo by 0.3% during the first quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company’s stock worth $3,493,000 after buying an additional 183 shares during the last quarter. Triton Wealth Management PLLC grew its holdings in shares of Oklo by 1.3% during the first quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company’s stock worth $734,000 after buying an additional 191 shares during the last quarter. Costello Asset Management INC increased its position in Oklo by 66.7% in the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Finally, Strategic Advocates LLC raised its stake in Oklo by 70.9% during the 4th quarter. Strategic Advocates LLC now owns 663 shares of the company’s stock valued at $47,000 after acquiring an additional 275 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.

Oklo Company Profile

Oklo Inc is an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.

The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.