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

Oklo Inc. (NYSE:OKLO) saw 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. Currently, 22.3% of the shares of the company are short sold. Based on an average daily trading volume, of 18,620,000 shares, the short-interest ratio is currently 0.7 days.

Oklo Stock Performance

NYSE:OKLO traded down $2.47 on Monday, hitting $52.56. The stock had a trading volume of 14,199,443 shares, compared to its average volume of 22,392,098. The company has a fifty day moving average price of $31.00 and a two-hundred day moving average price of $19.60. Oklo has a 1-year low of $5.35 and a 1-year high of $59.14.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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. 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. Wedbush boosted their price target on shares of Oklo from $26.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Oklo currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Insider Buying and Selling at Oklo

In related news, Director Richard Kinzley bought 5,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $19.95 per share, with a total value of $99,750.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available 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 sale, the chief executive officer now directly owns 12,543,085 shares of the company’s stock, valued at $271,056,066.85. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 21.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently bought and sold shares of the company. HITE Hedge Asset Management LLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $19,753,000. Vanguard Group Inc. lifted its holdings in shares of Oklo by 92.8% in the 4th quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after acquiring an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Oklo in the 4th quarter worth approximately $38,661,000. Atomi Financial Group Inc. acquired a new position in shares of Oklo in the 4th quarter worth approximately $19,285,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Oklo in the 4th quarter worth approximately $17,104,000. 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.