Oklo (NYSE:OKLO) Stock Price Down 3.6% – Here’s Why

Oklo Inc. (NYSE:OKLO) traded down 3.6% during trading on Wednesday . The stock traded as low as $19.53 and last traded at $21.02. 9,693,220 shares traded hands during trading, an increase of 78% from the average session volume of 5,442,512 shares. The stock had previously closed at $21.80.

Wall Street Analyst Weigh In

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

Oklo Price Performance

The firm has a 50 day simple moving average of $15.59 and a 200-day simple moving average of $10.90.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC acquired a new position in Oklo in the 3rd quarter valued at about $58,000. Y Intercept Hong Kong Ltd bought a new position in Oklo during the 3rd quarter worth $94,000. MML Investors Services LLC acquired a new stake in shares of Oklo during the third quarter worth $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Oklo in the third quarter valued at about $104,000. Finally, Stifel Financial Corp acquired a new position in shares of Oklo in the third quarter valued at about $104,000. 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.