OKLO founders sold over $18 million of stock on May 1. That same day, short interest sat at 19.3% of free float. Now the borrow market is tightening fast.
CEO Jacob DeWitte and COO Caroline Cochran both sold on May 1 — the same session OKLO was trading near $70. DeWitte sold roughly 182,000 shares across multiple transactions. Cochran sold approximately 160,000 shares. Combined proceeds exceeded $18 million.
The stock has gained 42% over the past month. Both founders still hold significant stakes — DeWitte at 6.2% and Cochran at 5.6% — but the timing draws attention. Earnings are due May 12.
Availability has dropped sharply. With utilization at 90.3% — up from 55% in early April — only a fraction of the lending pool remains unallocated. The 52-week peak was 97.7%. The gap is closing.
That's a near-doubling of utilization in under five weeks. Short interest stands at 19.3% of free float, up 28% over the past month. The borrow demand is real and growing.
Cost to borrow remains low at 0.93% APR. That could change quickly if availability tightens further toward the 52-week extreme.
Two fresh initiations arrived in late April. Tigress Financial started coverage with a Buy and a $130 target. HSBC initiated at Buy with a $96 target. The consensus mean sits at $91.36 — roughly 34% above the current price of $68.38.
OKLO's analyst recommendation differential ranks in the 97th percentile. EPS momentum over 30 and 90 days ranks in the 87th and 92nd percentiles respectively. The factor picture skews bullish.
Yet shorts aren't flinching. The ORTEX short score holds at 69.9 — consistent and elevated. Utilization ranks in the 1st percentile globally, meaning nearly every other stock has more borrow headroom than OKLO right now.
The put/call ratio is 0.73, about 1.8 standard deviations above its 20-day mean. Options positioning has shifted modestly toward puts over the past week, even as the stock pulled back slightly.
Earnings on May 12 are the next catalyst. Prior prints have not been kind — the stock fell 5% in one day and 8% over five days after the March report. With borrow availability near multi-month lows and founders having just reduced exposure, how the market reacts to this next print will be telling.
Data summary
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