Oklo (NYSE:OKLO) Stock Price Down 5.5% After Insider Selling

Oklo Inc. (NYSE:OKLO) dropped 5.5% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $59.07 and last traded at $62.01. Approximately 9,749,068 shares changed hands during trading, a decline of 12% from the average daily 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 on 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 transaction, the chief executive officer owned 679,024 shares in the company, valued at approximately $43,179,136.16. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Dewitte sold 60,001 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $62.60, for a total transaction of $3,756,062.60. Following the completion of the transaction, the chief executive officer owned 688,196 shares of the company’s stock, valued at $43,081,069.60. This represents a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research cut shares of Oklo from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. UBS Group reaffirmed a “neutral” rating on shares of Oklo in a research note on Monday, January 12th. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research report on Friday, January 9th. Citigroup reissued a “neutral” rating on shares of Oklo in a report on Monday, November 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 price target on shares of Oklo in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Oklo has an average rating of “Moderate Buy” and a consensus target price of $98.93.

Oklo Stock Down 5.5%

The stock has a fifty day moving average price of $78.37 and a two-hundred day moving average price of $95.76. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -114.83 and a beta of 0.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Oklo by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 11,637,504 shares of the company’s stock worth $835,107,000 after buying an additional 44,036 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 stake in Oklo by 13.9% in the 4th 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 period. State Street Corp raised its holdings in Oklo by 23.6% in the 4th quarter. State Street Corp now owns 3,060,220 shares of the company’s stock valued at $219,601,000 after acquiring an additional 584,184 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Oklo by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,816,007 shares of the company’s stock valued at $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.