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

Oklo Inc. (NYSE:OKLO) was the target of a significant growth in short interest during the month of 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. Currently, 22.3% of the shares of the stock are short sold. Based on an average daily volume of 18,620,000 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective on the stock. B. Riley increased their price target on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup increased their price target on shares of Oklo from $10.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, Wedbush increased their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Oklo has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Insider Activity

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

Institutional Investors Weigh In On Oklo

Large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter worth $27,000. Sandy Spring Bank acquired a new stake in shares of Oklo in the fourth quarter worth $32,000. CoreCap Advisors LLC acquired a new stake in shares of Oklo in the fourth quarter worth $32,000. Covestor Ltd acquired a new stake in shares of Oklo in the fourth quarter worth $34,000. Finally, Anfield Capital Management LLC acquired a new stake in shares of Oklo in the fourth quarter worth $43,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Stock Performance

NYSE:OKLO traded down $2.47 during trading hours on Monday, reaching $52.56. 14,199,443 shares of the company were exchanged, compared to its average volume of 22,392,098. Oklo has a 52-week low of $5.35 and a 52-week high of $59.14. The stock has a 50 day simple moving average of $31.00 and a 200 day simple moving average of $19.60.

Oklo Company Profile

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.