Short Interest in Oklo Inc. (NYSE:OKLO) Grows By 16.8%

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 sold short. Based on an average trading volume of 18,620,000 shares, the days-to-cover ratio is presently 0.7 days.

Oklo Stock Performance

Shares of OKLO traded down $2.47 during mid-day trading on Monday, hitting $52.56. 14,199,443 shares of the company traded hands, 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 business has a 50 day moving average of $31.00 and a 200 day moving average of $19.60.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley boosted their target price on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup boosted their target price on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Finally, Craig Hallum assumed coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Oklo presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Insider Buying and Selling

In other news, Director Richard Kinzley bought 5,000 shares of Oklo stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $99,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the transaction, the chief executive officer now owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This 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 owned by insiders.

Hedge Funds Weigh In On Oklo

Hedge funds have recently modified their holdings of the stock. Portland Investment Counsel Inc. acquired a new position in Oklo in the 3rd quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC acquired a new position in Oklo in the 3rd quarter worth approximately $19,753,000. Atomi Financial Group Inc. purchased a new stake in Oklo in the 4th quarter worth approximately $19,285,000. Archford Capital Strategies LLC purchased a new stake in Oklo in the 4th quarter worth approximately $212,000. Finally, Barclays PLC purchased a new stake in Oklo in the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.