Wealth Enhancement Advisory Services LLC Sells 30,127 Shares of Oklo Inc. $OKLO

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Oklo by 51.3% in Q4, selling 30,127 shares and leaving it with 28,593 shares valued at about $2.05 million.
• Heavy insider selling has occurred recently: CEO Jacob Dewitte sold 231,657 shares (~$22.99M) and CFO Richard Bealmear sold 72,090 shares (~$4.33M), with insiders offloading 1,222,424 shares worth ~$100.74M over the last 90 days (insiders now own 18.9%).
• Analyst sentiment and results: several firms trimmed price targets (Goldman to $65, Citi to $73.50) though consensus is a "Moderate Buy" with a $84.30 target, and Oklo missed quarterly EPS (-$0.27 vs. -$0.17) while trading near $48.15.

Wealth Enhancement Advisory Services LLC reduced its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 51.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,593 shares of the company's stock after selling 30,127 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Oklo were worth $2,052,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKLO. GAMMA Investing LLC boosted its position in shares of Oklo by 356.3% during the 4th quarter. GAMMA Investing LLC now owns 365 shares of the company's stock worth $26,000 after purchasing an additional 285 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in Oklo in the 3rd quarter valued at about $27,000. Elevation Point Wealth Partners LLC acquired a new position in Oklo during the 2nd quarter worth approximately $28,000. Gables Capital Management Inc. acquired a new position in Oklo during the 3rd quarter worth approximately $28,000. Finally, Nemes Rush Group LLC bought a new position in Oklo in the third quarter worth approximately $28,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Insider Buying and Selling at Oklo

In other news, CEO Jacob Dewitte sold 231,657 shares of the 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 completion of the sale, the chief executive officer owned 827,019 shares in the company, valued at $82,081,635.75. This represents a 21.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Craig Bealmear sold 72,090 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $60.00, for a total transaction of $4,325,400.00. Following the transaction, the chief financial officer directly owned 386,008 shares in the company, valued at $23,160,480. The trade was a 15.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,222,424 shares of company stock worth $100,739,512. Company insiders own 18.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on OKLO shares. The Goldman Sachs Group reduced their price objective on Oklo from $91.00 to $65.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Craig Hallum reaffirmed a "hold" rating on shares of Oklo in a research report on Wednesday, March 18th. Zacks Research upgraded Oklo from a "strong sell" rating to a "hold" rating in a report on Thursday, March 19th. Citigroup reduced their price target on shares of Oklo from $95.00 to $73.50 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $122.00 price objective on shares of Oklo in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Oklo has a consensus rating of "Moderate Buy" and a consensus price target of $84.30.

Oklo Stock Up 0.2%

Shares of Oklo stock opened at $48.15 on Friday. The company has a market cap of $8.36 billion, a PE ratio of -66.87 and a beta of 0.93. Oklo Inc. has a 52 week low of $17.42 and a 52 week high of $193.84. The business has a 50 day moving average price of $64.62 and a 200-day moving average price of $93.16.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Tuesday, March 17th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.10). During the same quarter in the prior year, the firm earned ($0.74) earnings per share. As a group, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

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.

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