Oklo (NYSE:OKLO) Trading Down 1.1% After Insider Selling

Key Points

• Oklo Inc. experienced a 1.1% drop in share price after a major insider, CEO Jacob Dewitte, sold 300,000 shares for approximately $33.68 million.
• Wall Street analysts have mixed ratings for Oklo, with targets ranging from $68.00 to $150.00, and a current consensus rating of "Hold".
• The company reported a quarterly loss of ($0.18) EPS, missing estimates, and analysts forecast an overall -8.2 EPS for the current year.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price dropped 1.1% during trading on Friday following insider selling activity. The company traded as low as $122.77 and last traded at $127.41. Approximately 17,350,222 shares were traded during trading, a decline of 6% from the average daily volume of 18,501,609 shares. The stock had previously closed at $128.80.

Specifically, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the sale, the chief executive officer owned 9,780,098 shares of the company's stock, valued at $1,097,913,801.48. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

OKLO has been the topic of several recent analyst reports. Wedbush increased their target price on Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Citigroup increased their target price on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Daiwa America raised shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Sunday, July 27th. Finally, Bank of America reissued a "neutral" rating and set a $117.00 price objective (up from $92.00) on shares of Oklo in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Oklo currently has a consensus rating of "Hold" and an average price target of $83.77.

Oklo Trading Down 1.1%

The stock has a market cap of $18.81 billion, a PE ratio of -303.35 and a beta of 0.68. The company's 50 day moving average is $86.14 and its 200-day moving average is $56.66.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OKLO. Caldwell Sutter Capital Inc. acquired a new position in shares of Oklo in the 2nd quarter valued at about $25,000. Private Trust Co. NA acquired a new position in Oklo during the 2nd quarter valued at about $25,000. Fourth Dimension Wealth LLC boosted its stake in Oklo by 125.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 450 shares of the company's stock valued at $25,000 after purchasing an additional 250 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Oklo during the 2nd quarter valued at about $28,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Oklo by 107.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 305 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

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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