Oklo (NYSE:OKLO) Sees Unusually-High Trading Volume – Still a Buy?

Oklo Inc. (NYSE:OKLO) saw unusually-high trading volume on Tuesday . Approximately 3,879,625 shares changed hands during trading, a decline of 32% from the previous session’s volume of 5,700,724 shares.The stock last traded at $21.16 and had previously closed at $22.23.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. B. Riley initiated coverage on 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 Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Stock Performance

The firm’s 50 day moving average is $17.54 and its 200 day moving average is $11.40.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC purchased a new stake in shares of Oklo in the third quarter worth $58,000. Y Intercept Hong Kong Ltd bought a new position in Oklo in the 3rd quarter worth about $94,000. Peapack Gladstone Financial Corp purchased a new stake in Oklo during the 3rd quarter valued at about $100,000. Sanctuary Advisors LLC bought a new stake in Oklo during the 3rd quarter valued at about $100,000. Finally, MML Investors Services LLC purchased a new position in Oklo in the third quarter worth about $104,000. Hedge funds and other institutional investors 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.