Oklo (NYSE:OKLO) CEO Jacob Dewitte Sells 40,000 Shares of Company Stock

Key Points

• Oklo CEO Jacob DeWitte sold 40,000 shares for about $985,600 at an average price of $24.64 under a pre-arranged Rule 10b5-1 plan. He retained 351,533 shares after the sale.
• Oklo shares fell 6.2% to $22.04 and were near their 52-week low; the stock’s 50-day and 200-day moving averages stood at $34.83 and $53.41, respectively.
• Analysts have cut several price targets, though the consensus rating remained “Moderate Buy” with an average target of $69.72. The company also reported a quarterly loss per share wider than analysts expected.

Oklo Inc. (NYSE:OKLO - Get Free Report) CEO Jacob DeWitte sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $24.64, for a total transaction of $985,600.00. Following the completion of the sale, the chief executive officer owned 351,533 shares in the company, valued at approximately $8,661,773.12. The trade was a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 80,000 shares of Oklo stock. The stock was sold at an average price of $36.67, for a total transaction of $2,933,600.00.
• 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 shares were 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 stock was sold at an average price of $38.40, for a total transaction of $1,536,000.00.

Oklo Stock Down 6.2%

Shares of NYSE:OKLO traded down $1.45 during trading on Wednesday, hitting $22.04. 12,652,039 shares of the company were exchanged, compared to its average volume of 11,010,423. The business's 50 day moving average is $34.83 and its 200-day moving average is $53.41. The company has a market capitalization of $4.10 billion, a P/E ratio of -23.45 and a beta of 1.31. Oklo Inc. has a 1-year low of $21.65 and a 1-year high of $123.44.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly 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 firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. During the same period last year, the firm earned ($0.18) EPS. The business's revenue was up 11900.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Oklo Inc. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

OKLO has been the topic of several research reports. Piper Sandler reduced their price target on Oklo from $55.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. B. Riley Financial dropped their price objective on shares of Oklo from $92.00 to $61.00 and set a "buy" rating for the company in a report on Wednesday, October 28th. TD Cowen initiated coverage on shares of Oklo in a research report on Monday, October 26th. They set a "hold" rating and a $26.00 target price on the stock. Barclays cut their target price on shares of Oklo from $76.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 20th. Finally, UBS Group reduced their target price on shares of Oklo from $55.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaCore Capital LLC acquired a new stake in Oklo during the third quarter worth approximately $435,000. Midwest Capital Advisors LLC bought a new stake in Oklo in the third quarter worth approximately $67,000. Fulcrum Asset Management LLP lifted its stake in Oklo by 1,733.4% in the third quarter. Fulcrum Asset Management LLP now owns 17,821 shares of the company's stock valued at $661,000 after buying an additional 16,849 shares during the period. StoneX Group Inc. lifted its stake in Oklo by 473.7% in the third quarter. StoneX Group Inc. now owns 20,692 shares of the company's stock valued at $801,000 after buying an additional 17,085 shares during the period. Finally, Alps Advisors Inc. lifted its stake in Oklo by 51.1% in the third quarter. Alps Advisors Inc. now owns 58,395 shares of the company's stock valued at $2,162,000 after buying an additional 19,745 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

More Oklo News

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $36 target, implying potential upside from recent levels. However, its target was also reported as a steep cut from $110, reflecting a more cautious valuation. Wedbush target article
• Positive Sentiment: Oklo has achieved low-power criticality at its Groves site and has substantial cash to fund development. Progress toward its Aurora reactor, manufacturing capacity and fuel initiatives could strengthen the longer-term outlook, although commercialization remains ahead. Fool article on Oklo’s reactor plans
• Neutral Sentiment: Two insiders sold small amounts of stock to cover tax withholding on vested equity awards, while retaining substantial holdings. The stated reason and modest size make the sales less concerning than discretionary insider selling. Insider trade details
• Negative Sentiment: Oklo is among the most heavily shorted utility stocks in its market-cap group, potentially amplifying volatility and reflecting significant investor skepticism. Short-interest report
• Negative Sentiment: Recent coverage highlights rising development costs, a history of earnings misses and a long wait before the business can scale reactor operations and revenue. The stock has fallen sharply over the past week and reached a new 52-week low, intensifying concerns about its high valuation and execution risks ahead of Q3 results. TIKR share-performance analysis Zacks analyst outlook

About Oklo

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.