Oklo (NYSE:OKLO) Sets New 1-Year Low on Insider Selling

Oklo Inc. (NYSE:OKLO)’s stock price hit a new 52-week low on Monday following insider selling activity. The stock traded as low as $24.38 and last traded at $24.5440, with a volume of 3,092,574 shares. The stock had previously closed at $25.25.

Specifically, insider Alexandra Renner sold 1,068 shares of Oklo stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $26.71, for a total transaction of $28,526.28. Following the transaction, the insider owned 593,750 shares of the company’s stock, valued at $15,859,062.50. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Hanson sold 1,034 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $26.71, for a total value of $27,618.14. Following the completion of the transaction, the insider directly owned 361,277 shares of the company’s stock, valued at approximately $9,649,708.67. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

OKLO has been the subject of several research analyst reports. B. Riley Financial reduced their price target on shares of Oklo from $92.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Citigroup lowered their price target on Oklo from $57.50 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. UBS Group decreased their price objective on shares of Oklo from $55.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, September 25th. Wedbush initiated coverage on shares of Oklo in a research note on Tuesday. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oklo in a report on Friday, August 7th. One equities 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 issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.72.

Oklo News Summary

Here are the key news stories impacting Oklo this week:

• Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $36 target, implying substantial upside from recent levels. Its target was sharply reduced from $110, however, underscoring a more cautious valuation outlook. Wedbush target article
• Positive Sentiment: Oklo has achieved low-power criticality at its Groves project, while progress on its Aurora reactor, manufacturing capacity and fuel supply could support its longer-term growth if converted into licensed projects and revenue. Fool article on Oklo’s reactor start-up
• Neutral Sentiment: Oklo was identified as the most-shorted utility stock in its market-cap category. Heavy short interest can add volatility, potentially amplifying either further declines or a rebound. Short-interest report
• Negative Sentiment: CEO Jacob DeWitte sold 40,000 shares and CFO Richard Bealmear sold 16,727 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, and each executive retained a sizable stake, but the sales may weigh on sentiment. CEO SEC filing CFO SEC filing
• Negative Sentiment: Recent coverage points to rising development costs, a history of earnings misses and limited current revenue ahead of Q3 results. Oklo’s steep recent decline to a new 52-week low reflects investors’ concern about execution and its ability to turn development progress into commercial sales. Zacks analysis TIKR analysis

Oklo Stock Performance

The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -23.45 and a beta of 1.31. The business has a fifty day moving average of $34.83 and a two-hundred day moving average of $53.41.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.12). The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $0.09 million. During the same period last year, the company earned ($0.18) earnings per share. Oklo’s revenue was up 11900.0% on a year-over-year basis. As a group, sell-side analysts predict that Oklo Inc. will post -1.01 EPS for the current fiscal year.

Institutional Trading of Oklo

Hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI grew its position in Oklo by 1.0% during the first quarter. Citizens Financial Group Inc. RI now owns 18,704 shares of the company’s stock worth $928,000 after buying an additional 182 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Oklo by 0.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,433 shares of the company’s stock valued at $3,493,000 after acquiring an additional 183 shares during the period. Triton Wealth Management PLLC lifted its position in shares of Oklo by 1.3% during the 1st quarter. Triton Wealth Management PLLC now owns 14,760 shares of the company’s stock valued at $734,000 after acquiring an additional 191 shares during the period. Costello Asset Management INC grew its holdings in shares of Oklo by 66.7% during the 1st quarter. Costello Asset Management INC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of Oklo by 3.4% during the 1st quarter. Swedbank AB now owns 10,592 shares of the company’s stock worth $525,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.