Oklo (NYSE:OKLO) Shares Gap Down After Insider Selling

Key Points

• Oklo Inc. (NYSE:OKLO) experienced a significant stock price drop from $131.17 to $110.96 following insider selling, with shares last trading at $119.28.
• Director Michael Stuart Klein sold 50,000 shares at $133.76, while CFO Richard Craig Bealmear made multiple sales, indicating a decrease in insider ownership of 25% and 54.95%, respectively.
• The company reported a loss of ($0.18) EPS for the last quarter, missing expectations, and analysts currently have an average "Hold" rating with a consensus target price of $76.50.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $131.17, but opened at $110.96. Oklo shares last traded at $119.28, with a volume of 16,046,654 shares traded.

Specifically, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total value of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Craig Bealmear sold 7,622 shares of Oklo stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $101.44, for a total value of $773,175.68. Following the sale, the chief financial officer directly owned 121,913 shares of the company's stock, valued at approximately $12,366,854.72. The trade was a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the sale, the chief financial officer directly owned 75,738 shares of the company's stock, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OKLO shares. William Blair restated an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Cantor Fitzgerald set a $73.00 price objective on Oklo and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Daiwa America upgraded Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a research note on Sunday, July 27th. Finally, Wedbush upped their target price on Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $76.50.

Oklo Trading Down 8.9%

The business has a 50-day simple moving average of $80.14 and a 200 day simple moving average of $52.89. The stock has a market cap of $17.65 billion, a P/E ratio of -280.72 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, equities analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. KBC Group NV boosted its holdings in shares of Oklo by 11.8% in the second quarter. KBC Group NV now owns 1,849 shares of the company's stock worth $104,000 after acquiring an additional 195 shares during the period. Fourth Dimension Wealth LLC grew its position in Oklo by 125.0% during the second quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock worth $25,000 after buying an additional 250 shares in the last quarter. MRA Advisory Group boosted its holdings in shares of Oklo by 2.8% in the 2nd quarter. MRA Advisory Group now owns 9,770 shares of the company's stock worth $547,000 after purchasing an additional 266 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of Oklo by 82.9% in the 2nd quarter. Rothschild Investment LLC now owns 640 shares of the company's stock worth $36,000 after purchasing an additional 290 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Oklo by 107.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 85.03% of the company's stock.

Oklo Company Profile

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

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