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

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

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley acquired 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $19.95 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $99,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of Oklo 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 sale, the chief executive officer now owns 12,543,085 shares in the company, valued at approximately $271,056,066.85. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new stake in shares of Oklo during the fourth quarter valued at $27,000. Sandy Spring Bank purchased a new stake in shares of Oklo during the fourth quarter valued at $32,000. CoreCap Advisors LLC purchased a new stake in shares of Oklo during the fourth quarter valued at $32,000. Covestor Ltd purchased a new stake in shares of Oklo during the fourth quarter valued at $34,000. Finally, Anfield Capital Management LLC purchased a new stake in shares of Oklo during the fourth quarter valued at $43,000. Institutional investors own 85.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Oklo Trading Down 4.5 %

OKLO stock traded down $2.47 during mid-day trading on Monday, reaching $52.56. 14,199,443 shares of the stock traded hands, compared to its average volume of 22,392,098. Oklo has a one year low of $5.35 and a one year high of $59.14. The business has a 50-day moving average price of $31.00 and a two-hundred day moving average price of $19.60.

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.