Oklo (NYSE:OKLO) Trading Down 5.5% on Insider Selling

Shares of Oklo Inc. (NYSE:OKLO) traded down 5.5% during trading on Thursday following insider selling activity. The stock traded as low as $59.07 and last traded at $62.01. 9,749,068 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 11,105,143 shares. The stock had previously closed at $65.65.

Specifically, CEO Jacob Dewitte sold 139,999 shares of Oklo stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $63.59, for a total transaction of $8,902,536.41. Following the completion of the transaction, the chief executive officer directly owned 679,024 shares of the company’s stock, valued at approximately $43,179,136.16. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 60,001 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $62.60, for a total value of $3,756,062.60. Following the completion of the sale, the chief executive officer directly owned 688,196 shares in the company, valued at $43,081,069.60. This trade represents a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

OKLO has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of Oklo in a research note on Wednesday, November 12th. Citigroup restated a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Bank of America upgraded shares of Oklo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $111.00 to $127.00 in a research report on Wednesday, January 21st. Wedbush reiterated an “outperform” rating on shares of Oklo in a research report on Friday, January 9th. Finally, B. Riley Financial raised their price objective on shares of Oklo from $58.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.93.

Oklo Stock Performance

The company has a market capitalization of $9.69 billion, a PE ratio of -114.83 and a beta of 0.80. The stock’s fifty day simple moving average is $77.99 and its 200-day simple moving average is $95.52.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. Armstrong Advisory Group Inc. acquired a new position in Oklo in the 3rd quarter valued at $27,000. Gables Capital Management Inc. purchased a new stake in shares of Oklo in the third quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in shares of Oklo in the third quarter valued at $28,000. CI Investments Inc. increased its stake in Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after purchasing an additional 179 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Oklo in the third quarter valued at $33,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.