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

Oklo Inc. (NYSE:OKLO) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 16,969,485 shares, a drop of 17.9% from the December 15th total of 20,667,407 shares. Currently, 13.4% of the company’s stock are short sold. Based on an average daily volume of 8,443,593 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 8,443,593 shares, the days-to-cover ratio is presently 2.0 days. Currently, 13.4% of the company’s stock are short sold.

Insider Activity at Oklo

In related news, CFO Richard Craig Bealmear sold 5,159 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $76.97, for a total transaction of $397,088.23. Following the transaction, the chief financial officer directly owned 196,913 shares of the company’s stock, valued at approximately $15,156,393.61. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Dewitte sold 26,740 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $111.38, for a total transaction of $2,978,301.20. Following the completion of the sale, the chief executive officer owned 808,197 shares of the company’s stock, valued at approximately $90,016,981.86. The trade was a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,552,800 shares of company stock valued at $137,543,426. 18.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of Oklo by 162.6% during the first quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after buying an additional 57,497 shares during the last quarter. AQR Capital Management LLC acquired a new position in Oklo in the 1st quarter valued at approximately $519,000. Millennium Management LLC raised its holdings in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock valued at $12,589,000 after acquiring an additional 570,532 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Oklo by 165.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock worth $339,000 after acquiring an additional 9,772 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Oklo by 90.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after purchasing an additional 53,703 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

Oklo Price Performance

Shares of NYSE OKLO traded down $5.24 during trading hours on Tuesday, hitting $89.71. 11,200,267 shares of the company’s stock were exchanged, compared to its average volume of 14,929,758. The company’s 50-day moving average price is $91.15 and its 200-day moving average price is $95.04. Oklo has a 1-year low of $17.42 and a 1-year high of $193.84. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of -166.13 and a beta of 0.76.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). During the same period in the prior year, the business posted ($0.08) earnings per share. On average, research analysts expect that Oklo will post -8.2 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on OKLO. Canaccord Genuity Group began coverage on shares of Oklo in a report on Thursday, October 9th. They issued a “buy” rating and a $175.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating on shares of Oklo in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Oklo in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $122.00 target price on shares of Oklo in a research report on Wednesday, November 12th. Finally, Seaport Res Ptn upgraded Oklo from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.13.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.