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

Oklo Inc. (NYSE:OKLO) shares fell 5.5% on Thursday following insider selling activity. The company traded as low as $59.07 and last traded at $62.01. 9,749,068 shares changed hands during 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 the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $63.59, for a total value of $8,902,536.41. Following the completion of the sale, the chief executive officer directly owned 679,024 shares in the company, valued at approximately $43,179,136.16. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 60,001 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $62.60, for a total value of $3,756,062.60. Following the sale, the chief executive officer owned 688,196 shares in the company, valued at $43,081,069.60. The trade was a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

OKLO has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Oklo from $146.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $106.00 price objective on shares of Oklo in a research note on Friday, January 9th. Zacks Research downgraded Oklo from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Finally, Bank of America upgraded Oklo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $111.00 to $127.00 in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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 company’s 50-day simple moving average is $78.37 and its 200-day simple moving average is $95.76.

Hedge Funds Weigh In On Oklo

Several institutional investors have recently added to or reduced their stakes in OKLO. Armstrong Advisory Group Inc. acquired a new stake in Oklo during the 3rd quarter worth approximately $27,000. Gables Capital Management Inc. purchased a new stake in shares of Oklo during the third quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in Oklo in the 3rd quarter valued at $28,000. CI Investments Inc. increased its stake in Oklo by 153.0% in the 3rd quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after buying an additional 179 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Oklo during the 3rd quarter worth $33,000. Institutional investors and hedge funds 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.