Oklo (NYSE:OKLO) Stock Price Down 9.1% on Insider Selling

Oklo Inc. (NYSE:OKLO)’s stock price traded down 9.1% during trading on Thursday after an insider sold shares in the company. The company traded as low as $110.14 and last traded at $119.19. 45,503,762 shares changed hands 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 Oklo stock in a transaction dated 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 owned 150,000 shares of the company’s stock, valued at approximately $20,064,000. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Craig Bealmear sold 7,622 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $101.44, for a total transaction of $773,175.68. Following the sale, the chief financial officer directly owned 121,913 shares in the company, valued at approximately $12,366,854.72. This trade represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Richard Craig Bealmear sold 92,378 shares of Oklo stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the stock an “overweight” rating in a report on Tuesday, July 15th. HC Wainwright raised their price target on Oklo from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. BNP Paribas Exane assumed coverage on Oklo in a research report on Friday, July 25th. They issued an “underperform” rating and a $14.00 price target for the company. Daiwa America raised Oklo from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 27th. Finally, The Goldman Sachs Group started coverage on Oklo in a report on Thursday. They set a “neutral” rating and a $117.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.50.

Oklo Price Performance

The company has a 50 day moving average of $81.18 and a 200-day moving average of $53.55. The company has a market cap of $17.59 billion, a P/E ratio of -283.78 and a beta of 0.59.

Oklo (NYSE:OKLO) last announced its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Institutional Investors Weigh In On Oklo

Hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Oklo by 358.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,069 shares of the company’s stock worth $1,254,000 after buying an additional 46,188 shares during the last quarter. Parallel Advisors LLC increased its stake in Oklo by 42.4% in the first quarter. Parallel Advisors LLC now owns 11,862 shares of the company’s stock valued at $257,000 after acquiring an additional 3,530 shares during the last quarter. Rhumbline Advisers purchased a new stake in Oklo during the first quarter valued at about $65,000. Kaizen Financial Strategies raised its position in Oklo by 26.7% during the first quarter. Kaizen Financial Strategies now owns 13,520 shares of the company’s stock valued at $292,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Oklo during the first quarter worth about $410,000. 85.03% of the stock is currently owned by institutional investors.

About Oklo

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.