Oklo Stock: Rebounds 22% After CEO Sold $33.7M in Shares Last Quarter

TLDR

• Oklo stock jumped 5% on Tuesday, reaching a high of $96.50 before settling at $91.73 on trading volume 41% below average
• Analysts maintain a “Hold” consensus rating with a $106.29 average price target, though some firms like UBS and Canaccord project $175
• The company missed Q3 earnings expectations, reporting a loss of $0.20 per share versus the expected $0.13 loss
• CEO Jacob Dewitte sold 300,000 shares for $33.7 million in September, while insiders collectively sold over 503,000 shares last quarter
• Institutional investors now hold approximately 85% of Oklo’s stock, with major increases from Vanguard and State Street

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Oklo shares moved higher during Tuesday’s trading session, gaining 5% and reaching an intraday peak of $96.50. The stock closed at $91.73 after trading approximately 10.9 million shares.

Oklo Inc., OKLO

That volume represented a 41% decrease from the company’s average daily trading activity of 18.3 million shares. The stock had closed Monday’s session at $87.36.

The nuclear energy company’s market capitalization now stands at $14.33 billion. Trading metrics show a 50-day moving average of $122.13 and a 200-day moving average of $86.05.

Wall Street analysts remain divided on Oklo’s prospects. The consensus rating sits at “Hold” with an average price target of $106.29.

However, individual analyst targets vary widely across the Street. Barclays set a target of $146, while both UBS Group and Canaccord Genuity established more bullish targets of $175.

The ratings breakdown includes one Strong Buy, eight Buy ratings, eight Hold ratings, and three Sell ratings. BTIG Research maintains a neutral stance on the stock.

Recent Earnings Disappoint

The company reported third-quarter results on November 12 that fell short of expectations. Oklo posted a loss of $0.20 per share, missing the consensus estimate of $0.13 per share.

This compared to a loss of $0.08 per share in the same quarter last year. Analysts project the company will post a loss of $8.20 per share for the current fiscal year.

The stock currently trades with a negative price-to-earnings ratio of -169.88. The company’s beta of 0.73 suggests lower volatility compared to the broader market.

Insider Activity Raises Questions

Insider selling activity has picked up in recent months. CEO Jacob Dewitte sold 300,000 shares on September 30 at an average price of $112.26.

The transaction totaled $33.7 million. Following the sale, Dewitte retained ownership of 9.78 million shares valued at approximately $1.1 billion.

Director Michael Stuart Klein also sold shares in September. He offloaded 50,000 shares at $133.76 each for a total of $6.7 million.

Over the last quarter, insiders sold 503,323 shares worth $53.9 million combined. Company insiders currently own 18.90% of the stock.

Chief Legal & Strategy Officer William Carroll Murphy Goodwin sold 5,864 shares on December 1 at $88.42 per share. The transaction totaled approximately $518,517.

Murphy had acquired 10,734 shares on November 28 through the vesting of restricted stock units. The sale reduced his position by more than half of the recently vested shares.

Institutional investors have been moving in the opposite direction. Hedge funds and large investors now control 85.03% of Oklo’s outstanding shares.

Vanguard Group increased its stake by 33.4% in the third quarter, adding 2.9 million shares. The firm now holds 11.6 million shares worth $1.29 billion.

State Street boosted its position by 454.5% during the second quarter. The investment firm added 1.75 million shares to bring its total to 2.14 million shares.

Geode Capital Management expanded its holdings by 195.9% in the second quarter. Van ECK Associates increased its stake by 61.0% in the third quarter to 3.47 million shares.

Oklo recently secured a binding contract with Siemens Energy for its Aurora powerhouse project. The agreement covers the design and delivery of the power conversion system, including a condensing SST-600 steam turbine and an SGen-100A industrial generator.

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