Oklo (NYSE:OKLO) Insider John Hanson Sells 1,034 Shares of Company Stock

Key Points

• Oklo insider John Hanson sold 1,034 shares for approximately $27,618 at an average price of $26.71, reportedly to cover tax withholding on vested equity awards. He retained 361,277 shares, worth about $9.65 million.
• Oklo shares fell 7.0% to $23.49, near their 52-week low of $23.44. The stock’s 50-day and 200-day moving averages were $35.53 and $54.14, respectively.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $73.83, although several firms recently lowered their targets. Oklo reported a quarterly loss of $0.28 per share but revenue rose 11,900% year over year to $1.21 million.

Oklo Inc. (NYSE:OKLO - Get Free Report) insider John Hanson sold 1,034 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $26.71, for a total transaction of $27,618.14. Following the sale, the insider directly owned 361,277 shares in the company, valued at $9,649,708.67. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Hanson also recently made the following trade(s):

• On Monday, September 28th, John Hanson sold 1,100 shares of Oklo stock. The shares were sold at an average price of $37.39, for a total transaction of $41,129.00.
• On Monday, August 24th, John Hanson sold 539 shares of Oklo stock. The stock was sold at an average price of $39.77, for a total transaction of $21,436.03.

Oklo Stock Down 7.0%

Shares of NYSE OKLO traded down $1.76 during midday trading on Monday, hitting $23.49. The stock had a trading volume of 8,530,582 shares, compared to its average volume of 11,002,499. The business's 50 day moving average is $35.53 and its 200-day moving average is $54.14. Oklo Inc. has a 52 week low of $23.44 and a 52 week high of $132.11. The company has a market cap of $4.37 billion, a P/E ratio of -24.99 and a beta of 1.31.

Oklo (NYSE:OKLO - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million for the quarter, compared to the consensus estimate of $0.09 million. During the same period in the prior year, the business earned ($0.18) earnings per share. The firm's quarterly revenue was up 11900.0% compared to the same quarter last year. As a group, analysts expect that Oklo Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Oklo from $51.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, October 22nd. TD Cowen began coverage on Oklo in a report on Monday, October 26th. They issued a "hold" rating and a $26.00 price objective for the company. Piper Sandler decreased their target price on Oklo from $55.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, October 19th. Canaccord Genuity Group lowered their target price on shares of Oklo from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Oklo in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.83.

Hedge Funds Weigh In On Oklo

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. Sei Investments Co. boosted its position in shares of Oklo by 344.6% in the first quarter. Sei Investments Co. now owns 50,096 shares of the company's stock worth $2,484,000 after purchasing an additional 38,829 shares during the period. Bank of America Corp DE raised its position in shares of Oklo by 55.3% during the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock valued at $30,760,000 after purchasing an additional 220,976 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Oklo during the 2nd quarter valued at $2,096,000. Hsbc Holdings PLC lifted its stake in shares of Oklo by 1,184.4% during the 4th quarter. Hsbc Holdings PLC now owns 112,372 shares of the company's stock valued at $8,063,000 after buying an additional 103,623 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new position in shares of Oklo during the 1st quarter valued at $2,414,000. 85.03% of the stock is owned by institutional investors.

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.

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