Oklo Inc. (NYSE:OKLO) Sees Significant Growth in Short Interest

Oklo Inc. (NYSE:OKLO) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 13,780,000 shares, an increase of 16.8% from the January 15th total of 11,800,000 shares. Approximately 22.3% of the company’s stock are short sold. Based on an average daily trading volume, of 18,620,000 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OKLO. Citigroup raised their target price on shares of Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. B. Riley raised their target price on shares of Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Wedbush lifted their price objective on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Oklo Trading Down 4.5 %

Shares of NYSE:OKLO traded down $2.47 on Monday, hitting $52.56. 14,199,443 shares of the company were exchanged, compared to its average volume of 22,392,098. Oklo has a 1-year low of $5.35 and a 1-year high of $59.14. The stock’s 50 day moving average price is $31.00 and its 200 day moving average price is $19.60.

Insider Activity at Oklo

In other news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at approximately $271,056,066.85. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKLO. TD Waterhouse Canada Inc. acquired a new position in Oklo during the fourth quarter valued at $27,000. Sandy Spring Bank purchased a new position in Oklo in the fourth quarter valued at $32,000. CoreCap Advisors LLC purchased a new position in Oklo in the fourth quarter valued at $32,000. Covestor Ltd purchased a new position in Oklo in the fourth quarter valued at $34,000. Finally, Anfield Capital Management LLC purchased a new position in Oklo in the fourth quarter valued at $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.