The great energy debate is back in the news with some of the Magnificent Seven pushing investments into the nuclear field. Whether nuclear power falls under the category of “clean energy” is open to interpretation, however Amazon, Google, and Meta are seeking to triple nuclear power worldwide by 2050. As the Trump Administration talks of expanding its energy footprint to other regions of the world, sector specialists are likely to keep an eye on the nuclear industry in the coming months. One company that falls into this category is Oklo Inc. (NYSE: OKLO).
Based in California, OKLO designs and manufactures fission reactors to produce nuclear energy to sell to its customers. The company’s goal is to produce affordable and clean energy at their power plants that is accessible to all who need it. OKLO has steadily been increasing the capacity of their reactors to produce more megawatts as demand continues to rise.
While the capacity of the reactors rises, so does Utilization for OKLO. Using the Orbisa Securities Lending Dashboard in TWS, we can see that the month of March began with a rate of 52% and as of March 28th, the rate has risen to 90%. The stock’s Utilization has steadily increased as more shares were loaned. The Short Interest Indicator also observed the same behavior in March, beginning at 11% and reaching 19% on March 28th. OKLO is being lent at a much higher borrow fee due to market demands.
OKLO Utilization vs Short Interest Indicator (past month)
Source: Interactive Brokers Securities Lending Dashboard. Data is provided by Orbisa.
Past performance is not indicative of future results
During the same time period, OKLO’s share price has decreased 22% from $28.69 on March 3rd to $22.33 on March 28th. The decline has coincided with the movement of the market, however the On-Loan Quantity and Value have increased significantly for this position (10M to 18M and $339M to $447M, respectively). Growths of this magnitude will often result in the fee rate tagging along for the ride up. The borrow fee started March at 0.45% before reaching a 4%-handle by the end of the month.
OKLO Short History (3/3/2025-3/31/2025)
Past performance is not indicative of future results
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