Jacob Dewitte Sells 60,000 Shares of Oklo (NYSE:OKLO) Stock

Oklo Inc. (NYSE:OKLO) CEO Jacob Dewitte sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total transaction of $3,168,000.00. Following the completion of the transaction, the chief executive officer owned 511,533 shares of the company’s stock, valued at $27,008,942.40. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, July 1st, Jacob Dewitte sold 140,000 shares of Oklo stock. The stock was sold at an average price of $52.98, for a total transaction of $7,417,200.00.
• On Monday, June 1st, Jacob Dewitte sold 140,000 shares of Oklo stock. The stock was sold at an average price of $68.29, for a total transaction of $9,560,600.00.
• On Monday, June 1st, Jacob Dewitte sold 60,000 shares of Oklo stock. The shares were sold at an average price of $68.29, for a total transaction of $4,097,400.00.
• On Friday, May 1st, Jacob Dewitte sold 140,000 shares of Oklo stock. The shares were sold at an average price of $70.50, for a total transaction of $9,870,000.00.
• On Friday, May 1st, Jacob Dewitte sold 60,000 shares of Oklo stock. The shares were sold at an average price of $69.61, for a total transaction of $4,176,600.00.

Oklo Price Performance

NYSE OKLO opened at $47.37 on Thursday. The business has a fifty day moving average price of $61.81 and a two-hundred day moving average price of $67.14. The stock has a market capitalization of $8.24 billion, a PE ratio of -56.40 and a beta of 1.14. Oklo Inc. has a fifty-two week low of $44.88 and a fifty-two week high of $193.84.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, sell-side analysts expect that Oklo Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America assumed coverage on Oklo in a research note on Friday, May 22nd. They set a “buy” rating and a $80.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Oklo in a report on Monday, May 11th. They set a “neutral” rating and a $83.00 price target on the stock. Needham & Company LLC lowered their price objective on shares of Oklo from $135.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $122.00 price target on shares of Oklo in a research note on Wednesday, May 13th. Finally, Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.18.

Hedge Funds Weigh In On Oklo

Large investors have recently modified their holdings of the business. Nemes Rush Group LLC acquired a new stake in Oklo in the third quarter valued at $28,000. CI Investments Inc. increased its stake in shares of Oklo by 153.0% in the third quarter. CI Investments Inc. now owns 296 shares of the company’s stock valued at $33,000 after buying an additional 179 shares during the period. NBC Securities Inc. raised its position in shares of Oklo by 75.0% during the fourth quarter. NBC Securities Inc. now owns 350 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Oklo by 356.2% during the fourth quarter. GAMMA Investing LLC now owns 365 shares of the company’s stock worth $26,000 after acquiring an additional 285 shares during the last quarter. Finally, Strategic Advocates LLC acquired a new position in shares of Oklo in the third quarter worth approximately $43,000. Institutional investors own 85.03% of the company’s stock.

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.