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

Oklo Inc. (NYSE:OKLO) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 11,840,000 shares, a decrease of 21.5% from the December 15th total of 15,090,000 shares. Based on an average daily trading volume, of 19,120,000 shares, the days-to-cover ratio is presently 0.6 days. Approximately 19.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKLO. B. Riley started coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target on the stock. Citigroup lifted their target price 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 assumed coverage on shares of Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price target for the company.

Oklo Stock Up 7.7 %

OKLO traded up $1.86 on Friday, hitting $26.09. The company had a trading volume of 12,775,086 shares, compared to its average volume of 14,259,286. The company’s fifty day moving average price is $22.44 and its 200 day moving average price is $14.47. Oklo has a 1 year low of $5.35 and a 1 year high of $31.91.

Insider Transactions at Oklo

In other Oklo news, Director Richard Kinzley acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $99,750.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $99,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the firm’s stock in a transaction that occurred on 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 directly owns 12,543,085 shares in the company, valued at $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. Insiders own 21.80% of the company’s stock.

Institutional Investors Weigh In On Oklo

A number of institutional investors and hedge funds have recently made changes to their positions in OKLO. Secure Asset Management LLC purchased a new position in shares of Oklo during the 4th quarter worth approximately $1,403,000. Janney Montgomery Scott LLC acquired a new position in Oklo during the fourth quarter worth $617,000. Atomi Financial Group Inc. purchased a new position in shares of Oklo during the fourth quarter worth $19,285,000. Joule Financial LLC acquired a new stake in shares of Oklo in the fourth quarter valued at $1,963,000. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Oklo in the 4th quarter valued at $2,182,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.