Short Interest in Oklo Inc. (NYSE:OKLO) Decreases By 21.5%

Oklo Inc. (NYSE:OKLO) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 11,840,000 shares, a decline of 21.5% from the December 15th total of 15,090,000 shares. Based on an average trading volume of 19,120,000 shares, the short-interest ratio is currently 0.6 days. Currently, 19.1% of the shares of the stock are short sold.

Oklo Price Performance

Shares of NYSE:OKLO traded up $1.86 during trading on Friday, reaching $26.09. 12,775,086 shares of the stock were exchanged, compared to its average volume of 14,259,286. Oklo has a 1-year low of $5.35 and a 1-year high of $31.91. The stock has a fifty day moving average of $22.44 and a two-hundred day moving average of $14.47.

Analysts Set New Price Targets

A number of research firms recently weighed in on OKLO. Citigroup increased their price objective on Oklo from $10.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush assumed coverage on Oklo in a research note on Thursday, December 19th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, B. Riley initiated coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company.

Insider Buying and Selling at Oklo

In other news, Director Richard Kinzley purchased 5,000 shares of Oklo stock in a transaction dated Monday, December 23rd. The shares were bought 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 in the company, valued at approximately $99,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $4,982,596.09. Following the completion of the transaction, 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. Company insiders own 21.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC bought a new stake in shares of Oklo during the third quarter worth about $19,753,000. Atomi Financial Group Inc. bought a new position in shares of Oklo during the 4th quarter worth approximately $19,285,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo in the 3rd quarter worth approximately $6,493,000. Readystate Asset Management LP purchased a new stake in shares of Oklo during the third quarter valued at approximately $6,193,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Oklo during the third quarter valued at approximately $5,971,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.