Insider Selling: Oklo Inc. (NYSE:OKLO) Director Sells 50,000 Shares of Stock

Oklo Inc. (NYSE:OKLO) Director Michael Stuart Klein sold 50,000 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the transaction, the director now owns 200,000 shares of the company’s stock, valued at $10,970,000. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Michael Stuart Klein also recently made the following trade(s):

• On Friday, June 20th, Michael Stuart Klein sold 150,000 shares of Oklo stock. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00.
• On Wednesday, June 18th, Michael Stuart Klein sold 100,000 shares of Oklo stock. The shares were sold at an average price of $63.53, for a total transaction of $6,353,000.00.

Oklo Stock Performance

Shares of OKLO opened at $55.53 on Thursday. Oklo Inc. has a fifty-two week low of $5.35 and a fifty-two week high of $73.55. The firm’s 50-day simple moving average is $41.85 and its two-hundred day simple moving average is $33.87. The stock has a market cap of $7.75 billion, a PE ratio of -10.26 and a beta of 0.58.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Equities research analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on OKLO. Craig Hallum lowered shares of Oklo from a “buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a report on Monday. Citigroup reissued a “neutral” rating on shares of Oklo in a research report on Wednesday, May 14th. Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Wedbush set a $75.00 price target on Oklo and gave the company an “outperform” rating in a research report on Thursday, June 12th. Finally, CLSA upgraded Oklo from an “outperform” rating to a “moderate buy” rating and increased their price objective for the stock from $50.00 to $74.00 in a report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oklo currently has an average rating of “Moderate Buy” and an average price target of $58.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OKLO. Sanctuary Advisors LLC increased its holdings in shares of Oklo by 115.9% during the fourth quarter. Sanctuary Advisors LLC now owns 26,590 shares of the company’s stock valued at $565,000 after acquiring an additional 14,272 shares in the last quarter. Truist Financial Corp bought a new position in Oklo in the 4th quarter worth about $227,000. Private Advisor Group LLC purchased a new stake in Oklo during the 4th quarter valued at about $2,839,000. ARK Investment Management LLC bought a new stake in Oklo during the 4th quarter valued at about $9,645,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new stake in Oklo during the 4th quarter valued at about $1,208,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.