Oklo (NYSE:OKLO) Stock: Insider Jacob Dewitte Sells 80,000 Shares

Oklo Inc. (NYSE:OKLO) CEO Jacob DeWitte sold 80,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $36.67, for a total value of $2,933,600.00. Following the sale, the chief executive officer directly owned 358,039 shares of the company’s stock, valued at approximately $13,129,290.13. This represents a 18.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jacob Dewitte also recently made the following trade(s):

• On Thursday, October 1st, Jacob DeWitte sold 40,000 shares of Oklo stock. The shares were sold at an average price of $36.19, for a total transaction of $1,447,600.00.
• On Tuesday, September 1st, Jacob DeWitte sold 80,000 shares of Oklo stock. The stock was sold at an average price of $38.69, for a total transaction of $3,095,200.00.
• On Tuesday, September 1st, Jacob DeWitte sold 40,000 shares of Oklo stock. The stock was sold at an average price of $38.40, for a total transaction of $1,536,000.00.

Oklo Trading Up 0.4%

Shares of Oklo stock traded up $0.13 on Monday, reaching $36.00. 7,606,479 shares of the stock were exchanged, compared to its average volume of 11,164,261. Oklo Inc. has a 1-year low of $34.38 and a 1-year high of $193.84. The business has a fifty day moving average price of $40.65 and a two-hundred day moving average price of $51.88. The firm has a market capitalization of $6.70 billion, a PE ratio of -38.30 and a beta of 1.20.

Oklo (NYSE:OKLO) last posted 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 company had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $0.09 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s quarterly revenue was up 11900.0% compared to the same quarter last year. Research analysts expect that Oklo Inc. will post -0.99 EPS for the current year.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. increased its holdings in Oklo by 344.6% during the 1st quarter. Sei Investments Co. now owns 50,096 shares of the company’s stock valued at $2,484,000 after acquiring an additional 38,829 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Oklo by 55.3% in 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Oklo in the second quarter valued at approximately $2,096,000. Hsbc Holdings PLC grew its position in shares of Oklo by 1,184.4% in the fourth quarter. Hsbc Holdings PLC now owns 112,372 shares of the company’s stock valued at $8,063,000 after purchasing an additional 103,623 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new position in shares of Oklo during the 1st quarter worth approximately $2,414,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial set a $51.00 price target on Oklo in a research note on Monday, September 28th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Oklo in a research report on Monday, August 10th. Piper Sandler reissued an “overweight” rating on shares of Oklo in a report on Thursday. Guggenheim began coverage on shares of Oklo in a research report on Thursday, June 25th. They set a “neutral” rating on the stock. Finally, Barclays lowered their price target on shares of Oklo from $82.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and a consensus price target of $82.44.

About Oklo

Oklo Inc is an advanced fission technology company developing compact nuclear power plants designed to provide reliable, carbon-free electricity. Its flagship Aurora powerhouse is a small-scale fission system intended to operate for extended periods and supply power directly to industrial, commercial, and other large energy users.

The company is also developing fuel-recycling capabilities to support the use of recovered nuclear fuel in advanced reactors. Oklo has pursued partnerships and regulatory work in the United States, including activities associated with the Idaho National Laboratory, and is initially focused on serving U.S.