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

Oklo Inc. (NYSE:OKLO) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 12,620,000 shares, a decline of 20.6% from the November 15th total of 15,890,000 shares. Based on an average daily trading volume, of 15,520,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 17.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in OKLO. HITE Hedge Asset Management LLC bought a new position in shares of Oklo during the third quarter valued at approximately $19,753,000. Portland Investment Counsel Inc. bought a new position in Oklo during the 3rd quarter worth $6,493,000. Readystate Asset Management LP acquired a new stake in Oklo in the third quarter worth $6,193,000. Geode Capital Management LLC bought a new stake in Oklo in the third quarter valued at $5,971,000. Finally, State Street Corp acquired a new position in shares of Oklo during the third quarter valued at $2,889,000. 85.03% of the stock is currently owned by institutional investors.

Oklo Stock Up 0.9 %

NYSE:OKLO traded up $0.16 during mid-day trading on Friday, reaching $18.53. The stock had a trading volume of 5,308,304 shares, compared to its average volume of 5,834,495. Oklo has a 1-year low of $5.35 and a 1-year high of $28.12. The stock’s 50 day simple moving average is $19.74 and its two-hundred day simple moving average is $12.14.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKLO. Seaport Res Ptn raised Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley began coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target for the company. Finally, Citigroup dropped their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th.

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.