Oklo (NYSE:OKLO) Trading Down 9.1% After Insider Selling

Key Points

• Oklo Inc.'s stock price fell 9.1% after significant insider selling, notably by Director Michael Stuart Klein and CFO Richard Craig Bealmear.
• Analysts have raised their price targets for Oklo, with estimates now ranging from $68.00 to $150.00, indicating varied perspectives on the stock's potential.
• The company reported a quarterly earnings miss, with a loss of ($0.18) earnings per share, which was below the consensus estimate.

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price traded down 9.1% during trading on Thursday following insider selling activity. The stock traded as low as $110.14 and last traded at $119.19. 45,503,762 shares were traded during mid-day trading, an increase of 148% from the average session volume of 18,345,750 shares. The stock had previously closed at $131.17.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Citigroup raised their price target on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. 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. Finally, Wedbush raised their price target on shares of 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 issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Oklo has an average rating of "Hold" and a consensus price target of $76.50.

Oklo Stock Down 9.1%

The company's 50-day moving average is $80.14 and its two-hundred day moving average is $52.89. The company has a market capitalization of $17.59 billion, a P/E ratio of -283.78 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). On average, sell-side analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Institutional Trading of Oklo

Several hedge funds and other institutional investors have recently bought and sold shares of OKLO. Vanguard Group Inc. boosted its stake in shares of Oklo by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company's stock valued at $94,770,000 after purchasing an additional 37,718 shares during the period. Geode Capital Management LLC raised its holdings in Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock worth $125,906,000 after purchasing an additional 1,488,482 shares in the last quarter. State Street Corp raised its holdings in Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company's stock worth $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Compound Planning Inc. increased its holdings in shares of Oklo by 6.2% during the first quarter. Compound Planning Inc. now owns 964,827 shares of the company's stock valued at $20,869,000 after acquiring an additional 56,437 shares in the last quarter. Finally, Portland Investment Counsel Inc. increased its holdings in shares of Oklo by 0.6% during the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company's stock valued at $17,358,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other 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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