Insider Selling: Oklo (NYSE:OKLO) CFO Sells $5,000,202.02 in Stock

Oklo Inc. (NYSE:OKLO) CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the sale, the chief financial officer directly owned 397,642 shares in the company, valued at $27,206,665.64. This represents a 15.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Richard Craig Bealmear also recently made the following trade(s):

• On Wednesday, April 1st, Richard Craig Bealmear sold 16,342 shares of Oklo stock. The stock was sold at an average price of $51.08, for a total transaction of $834,749.36.
• On Friday, March 13th, Richard Craig Bealmear sold 72,090 shares of Oklo stock. The stock was sold at an average price of $60.00, for a total transaction of $4,325,400.00.

Oklo Stock Performance

Shares of OKLO opened at $58.23 on Friday. The stock has a market capitalization of $10.13 billion, a PE ratio of -69.31 and a beta of 1.10. Oklo Inc. has a 1 year low of $44.88 and a 1 year high of $193.84. The company’s 50-day simple moving average is $62.90 and its 200-day simple moving average is $73.40.

Oklo (NYSE:OKLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, sell-side analysts predict that Oklo Inc. will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKLO. Citigroup raised their target price on shares of Oklo from $73.50 to $76.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Zacks Research raised shares of Oklo from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Oklo in a report on Wednesday, May 13th. Bank of America began coverage on shares of Oklo in a report on Friday, May 22nd. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Needham & Company LLC reduced their target price on shares of Oklo from $135.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Oklo currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.06.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Oklo by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock valued at $835,107,000 after purchasing an additional 44,036 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock worth $792,822,000 after acquiring an additional 2,968,981 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Oklo by 13.9% during the fourth quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock worth $283,902,000 after acquiring an additional 481,288 shares during the last quarter. State Street Corp grew its position in shares of Oklo by 23.6% during the fourth quarter. State Street Corp now owns 3,060,220 shares of the company’s stock worth $219,601,000 after acquiring an additional 584,184 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Oklo by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock worth $201,671,000 after acquiring an additional 185,265 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.