Oklo (NYSE:OKLO) Stock Price Down 11% After Insider Selling

Key Points

• Oklo shares fell 11% after news that insiders, including CFO Richard Craig Bealmear and CEO Jacob Dewitte, sold stock on June 1 under pre-arranged Rule 10b5-1 trading plans.
• The CEO sold 200,000 shares total across two transactions, while the CFO sold 73,081 shares, fueling a sharp jump in trading volume that was well above average.
• Despite the selloff, analysts remain broadly constructive on Oklo, with a consensus “Moderate Buy” rating and price targets that are mostly above the current share price.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price fell 11% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $64.05 and last traded at $65.3640. 22,296,494 shares changed hands during mid-day trading, an increase of 82% from the average session volume of 12,258,037 shares. The stock had previously closed at $73.47.

Specifically, CFO Richard Craig Bealmear sold 73,081 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the sale, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jacob Dewitte sold 140,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $9,560,600.00. Following the sale, the chief executive officer owned 538,039 shares of the company's stock, valued at approximately $36,742,683.31. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $68.29, for a total transaction of $4,097,400.00. Following the completion of the sale, the chief executive officer directly owned 571,533 shares in the company, valued at $39,029,988.57. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKLO. Barclays cut their price target on shares of Oklo from $146.00 to $82.00 and set an "overweight" rating for the company in a research report on Monday, February 23rd. HSBC began coverage on shares of Oklo in a research report on Thursday, April 23rd. They set a "buy" rating and a $96.00 price target for the company. Tigress Financial began coverage on shares of Oklo in a research report on Monday, April 27th. They set a "buy" rating and a $130.00 price target for the company. B. Riley Financial cut their price target on shares of Oklo from $129.00 to $92.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Finally, HC Wainwright restated a "buy" rating and set a $90.00 price target on shares of Oklo in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

Oklo News Roundup

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Oklo saw unusual call-option buying, with investors purchasing 118,556 call contracts, suggesting traders are positioning for a rebound.
• Positive Sentiment: Recent commentary highlighted ongoing momentum from Oklo’s progress on DOE fuel talks and regulatory approvals, including work tied to the Surplus Plutonium Utilization Program and NRC progress on its Aurora powerhouse design.
• Positive Sentiment: Analyst sentiment remains constructive overall, with recent price targets well above the current share price and a median target around $94.

Oklo Price Performance

The stock has a market capitalization of $11.37 billion, a P/E ratio of -77.81 and a beta of 1.10. The firm's 50 day moving average price is $62.05 and its 200 day moving average price is $74.26.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities research analysts forecast that Oklo Inc. will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Gables Capital Management Inc. bought a new position in shares of Oklo during the third quarter valued at about $28,000. Nemes Rush Group LLC bought a new position in Oklo in the third quarter worth about $28,000. CI Investments Inc. raised its stake in Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company's stock worth $33,000 after buying an additional 179 shares in the last quarter. Comprehensive Financial Planning Inc. PA raised its stake in Oklo by 950.0% in the third quarter. Comprehensive Financial Planning Inc. PA now owns 315 shares of the company's stock worth $35,000 after buying an additional 285 shares in the last quarter. Finally, Rossby Financial LCC raised its stake in Oklo by 75.0% in the third quarter. Rossby Financial LCC now owns 350 shares of the company's stock worth $41,000 after buying an additional 150 shares in the last quarter. 85.03% of the stock is owned by institutional investors.

About Oklo

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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