Oklo (NYSE:OKLO) Shares Down 1.1% After Insider Selling

Oklo Inc. (NYSE:OKLO)’s stock price fell 1.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $34.73 and last traded at $35.5790. Approximately 7,748,860 shares were traded during trading, a decline of 31% from the average session volume of 11,303,872 shares. The stock had previously closed at $35.98.

Specifically, Director John M. Jansen sold 6,354 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $36.67, for a total value of $233,001.18. Following the sale, the director owned 6,000 shares of the company’s stock, valued at approximately $220,020. This trade represents a 51.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

OKLO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. Truist Financial decreased their target price on Oklo from $55.00 to $51.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. UBS Group lowered their target price on Oklo from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Wolfe Research started coverage on shares of Oklo in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Canaccord Genuity Group dropped their target price on shares of Oklo from $125.00 to $100.00 and set a “buy” rating for the company 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, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.26.

Oklo Trading Down 1.1%

The company has a market capitalization of $6.62 billion, a P/E ratio of -37.85 and a beta of 1.18. The stock has a 50 day moving average price of $42.42 and a 200 day moving average price of $54.12.

Oklo (NYSE:OKLO) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The company had revenue of $1.21 million during the quarter, compared to the consensus estimate of $0.09 million. The firm’s quarterly revenue was up 11900.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share. On average, research analysts predict that Oklo Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Oklo

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Oklo during the fourth quarter worth $73,786,000. Van ECK Associates Corp raised its stake in 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 buying an additional 481,288 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Oklo in the second quarter valued at $24,532,000. Clear Street Group Inc. boosted its position in Oklo by 110.5% during the fourth quarter. Clear Street Group Inc. now owns 842,172 shares of the company’s stock valued at $60,434,000 after acquiring an additional 442,172 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Oklo by 55.3% in the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company’s stock worth $30,760,000 after acquiring an additional 220,976 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors.

Oklo Company Profile

Oklo Inc is an advanced nuclear technology company focused on developing and commercializing small-scale fission power plants. The company’s flagship product, the Aurora powerhouse, is designed to provide reliable, long-term electricity and heat using advanced nuclear reactor technology. Oklo is targeting applications such as industrial operations, data centers, defense facilities and other customers that require dependable, low-carbon energy.

Oklo is also developing fuel-recycling capabilities intended to use certain forms of nuclear fuel more efficiently and reduce the volume of nuclear waste requiring disposal.