Oklo Inc. (NYSE:OKLO - Get Free Report) CFO Richard Bealmear sold 16,727 shares of the business's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $25.55, for a total transaction of $427,374.85. Following the completion of the sale, the chief financial officer directly owned 467,261 shares of the company's stock, valued at approximately $11,938,518.55. The trade was a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Richard Craig Bealmear also recently made the following trade(s):
- On Tuesday, September 1st, Richard Bealmear sold 16,430 shares of Oklo stock. The stock was sold at an average price of $38.76, for a total transaction of $636,826.80.
Oklo Stock Down 6.2%
Shares of NYSE OKLO opened at $22.04 on Thursday. The company's 50-day simple moving average is $34.38 and its 200-day simple moving average is $53.06. Oklo Inc. has a 52-week low of $21.65 and a 52-week high of $123.44. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of -23.45 and a beta of 1.31.
Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.28) earnings per share 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 previous year, the business posted ($0.18) EPS. The firm's revenue was up 11900.0% on a year-over-year basis. Equities research analysts anticipate that Oklo Inc. will post -1.01 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on OKLO. Wedbush started coverage on Oklo in a research report on Tuesday. They issued an "outperform" rating and a $36.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oklo in a research report on Friday, August 7th. Piper Sandler reduced their price objective on Oklo from $55.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Barclays reduced their price objective on Oklo from $76.00 to $59.00 and set an "overweight" rating for the company in a research note on Tuesday, October 20th. Finally, Canaccord Genuity Group decreased their price objective on Oklo from $125.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.72.
Check Out Our Latest Report on Oklo
Hedge Funds Weigh In On Oklo
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Oklo by 55.3% in the 1st quarter. Bank of America Corp DE now owns 620,281 shares of the company's stock valued at $30,760,000 after acquiring an additional 220,976 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Oklo by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 516,886 shares of the company's stock worth $25,632,000 after purchasing an additional 5,945 shares in the last quarter. Swiss National Bank lifted its stake in Oklo by 7.1% in the 1st quarter. Swiss National Bank now owns 324,900 shares of the company's stock worth $16,112,000 after purchasing an additional 21,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Oklo during the 3rd quarter worth approximately $11,483,000. Finally, United Capital Management of KS Inc. acquired a new position in shares of Oklo during the 3rd quarter worth approximately $9,406,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Oklo
Here are the key news stories impacting Oklo this week:
- Positive Sentiment: Wedbush initiated coverage with an Outperform rating and a $36 price target, implying potential upside from the share price cited in the report. However, the firm had cut its target substantially from $110. Wedbush cuts Oklo price target
- Neutral Sentiment: CEO Jacob DeWitte and CFO Richard Bealmear reported stock sales made under pre-arranged Rule 10b5-1 plans. The sales may draw investor attention, though the scheduled nature provides context. CEO SEC filing CFO SEC filing
- Negative Sentiment: Markets reportedly reacted to projections that Democrats would win Congress, raising concerns about a possible slowdown in data-center construction and AI-related power demand. Oklo may be especially exposed because it has very little revenue compared with established contractors. Election concerns weigh on AI power stocks
- Negative Sentiment: Investors also face concerns about rising development costs and prior earnings misses ahead of quarterly results. Oklo’s limited current revenue makes successful project execution and converting reactor progress into commercial sales important to its valuation. Zacks analyst blog
Oklo Company Profile
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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.
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