Oklo Stock Climbs Higher After Insiders Sold $54M Shares Last Quarter

TLDR

• Oklo shares gained 5% Tuesday, hitting $96.50 before closing at $91.73 on volume 41% below average daily trading
• Wall Street shows mixed views with “Hold” rating and $106.29 target, though some analysts see $175 potential
• Q3 results disappointed with $0.20 loss per share versus $0.13 expected loss
• CEO and insiders sold over 500,000 shares worth $53.9 million last quarter
• Institutional ownership jumped to 85% as Vanguard and State Street significantly increased positions

Oklo posted a 5% gain during Tuesday’s session, climbing to an intraday high of $96.50. The stock settled at $91.73 after the previous close of $87.36.

Oklo Inc., OKLO

Trading volume came in lighter than usual. Only 10.9 million shares changed hands, down 41% from the 18.3 million share daily average.

The nuclear energy company now carries a $14.33 billion market cap. The stock trades at a negative P/E ratio of -169.88 with a beta of 0.73.

Wall Street Remains Split

Analysts can’t seem to agree on Oklo’s direction. The consensus rating sits at “Hold” with a $106.29 average price target.

Individual forecasts paint a different picture. Barclays sees the stock reaching $146 per share.

UBS Group and Canaccord Genuity set even higher targets at $175. BTIG Research maintains a neutral stance.

The rating breakdown shows one Strong Buy, eight Buys, eight Holds, and three Sells. This wide range reflects uncertainty about the company’s path forward.

The company’s moving averages tell an interesting story. The 50-day moving average sits at $122.13, well above current levels.

The 200-day moving average comes in at $86.05. This places the stock above its long-term trend but below recent peaks.

Earnings Miss Expectations

Oklo reported Q3 results on November 12 that disappointed investors. The company lost $0.20 per share versus expectations for a $0.13 loss.

Last year’s same quarter showed a $0.08 per share loss. Analysts project full-year losses of $8.20 per share for the current fiscal year.

Insider Selling Picks Up Steam

CEO Jacob Dewitte sold 300,000 shares on September 30 at $112.26 each. The transaction netted $33.7 million.

Dewitte still owns 9.78 million shares worth roughly $1.1 billion. The sale represented a 2.98% reduction in his holdings.

Director Michael Stuart Klein unloaded 50,000 shares in late September at $133.76 per share. That sale totaled $6.7 million and cut his stake by 25%.

Chief Legal Officer William Carroll Murphy Goodwin sold 5,864 shares on December 1 at $88.42. The sale brought in $518,517.

Combined insider sales last quarter reached 503,323 shares valued at $53.9 million. Insiders currently own 18.90% of outstanding shares.

Institutional investors moved the opposite direction. Large funds now control 85.03% of the company.

Vanguard Group added 2.9 million shares in Q3, boosting its stake 33.4% to 11.6 million shares. State Street increased holdings by 454.5% during Q2.

Geode Capital Management grew its position 195.9% in the second quarter. Van ECK Associates expanded ownership 61% in Q3 to 3.47 million shares.

Oklo signed a binding agreement with Siemens Energy for its Aurora powerhouse power conversion system. The deal includes a condensing SST-600 steam turbine and SGen-100A industrial generator.

The post Oklo Stock Climbs Higher After Insiders Sold $54M Shares Last Quarter appeared first on Blockonomi.