Insider Selling: Oklo (NYSE:OKLO) Insider Sells $28,526.28 in Stock

Oklo Inc. (NYSE:OKLO) insider Alexandra Renner sold 1,068 shares of Oklo stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $26.71, for a total transaction of $28,526.28. Following the sale, the insider directly owned 593,750 shares of the company’s stock, valued at approximately $15,859,062.50. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alexandra Renner also recently made the following trade(s):

• On Wednesday, October 14th, Alexandra Renner sold 688 shares of Oklo stock. The shares were sold at an average price of $30.75, for a total value of $21,156.00.
• On Monday, September 28th, Alexandra Renner sold 1,100 shares of Oklo stock. The stock was sold at an average price of $37.39, for a total value of $41,129.00.
• On Tuesday, September 1st, Alexandra Renner sold 1,930 shares of Oklo stock. The stock was sold at an average price of $38.40, for a total value of $74,112.00.
• On Monday, August 24th, Alexandra Renner sold 557 shares of Oklo stock. The shares were sold at an average price of $39.77, for a total value of $22,151.89.

Oklo Trading Down 6.2%

OKLO stock opened at $22.04 on Thursday. The company’s 50 day moving average is $34.38 and its two-hundred day moving average is $53.06. Oklo Inc. has a twelve month low of $21.65 and a twelve month high of $123.44. The stock has a market cap of $4.10 billion, a P/E ratio of -23.45 and a beta of 1.31.

Oklo (NYSE:OKLO) last announced its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to analysts’ expectations of $0.09 million. The firm’s revenue for the quarter was up 11900.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) earnings per share. On average, equities research analysts predict that Oklo Inc. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Oklo from $125.00 to $100.00 and set a “buy” rating for the company in a report on Monday, August 10th. Truist Financial dropped their price target on Oklo from $51.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, October 22nd. TD Cowen started coverage on shares of Oklo in a research report on Monday, October 26th. They set a “hold” rating and a $26.00 target price on the stock. B. Riley Financial cut their price objective on shares of Oklo from $92.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Oklo currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.72.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Oklo in the second quarter valued at $24,532,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Oklo in the 3rd quarter worth approximately $11,483,000. United Capital Management of KS Inc. acquired a new stake in Oklo during the third quarter valued at approximately $9,406,000. Bank of America Corp DE lifted its stake in Oklo by 55.3% during the first quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock valued at $30,760,000 after purchasing an additional 220,976 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Oklo by 1,184.4% in the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock worth $8,063,000 after buying an additional 103,623 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

Trending Headlines about Oklo

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $36 price target, implying potential upside from the share price cited in the report. However, the firm had cut its target substantially from $110. Wedbush cuts Oklo price target
• Neutral Sentiment: CEO Jacob DeWitte and CFO Richard Bealmear reported stock sales made under pre-arranged Rule 10b5-1 plans. The sales may draw investor attention, though the scheduled nature provides context. CEO SEC filing CFO SEC filing
• Negative Sentiment: Markets reportedly reacted to projections that Democrats would win Congress, raising concerns about a possible slowdown in data-center construction and AI-related power demand. Oklo may be especially exposed because it has very little revenue compared with established contractors. Election concerns weigh on AI power stocks
• Negative Sentiment: Investors also face concerns about rising development costs and prior earnings misses ahead of quarterly results. Oklo’s limited current revenue makes successful project execution and converting reactor progress into commercial sales important to its valuation. Zacks analyst blog

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company developing compact fission power plants designed to provide reliable, carbon-free electricity. Its flagship product, the Aurora powerhouse, is a small modular reactor intended to operate with a high degree of fuel efficiency and to supply power directly to customers such as utilities, industrial facilities, data centers and other energy-intensive operations.

The company is also developing fuel-recycling capabilities intended to convert used nuclear fuel and other material into fuel for advanced reactors.