Oklo (NYSE:OKLO) Shares Gap Down on Analyst Downgrade

Oklo Inc. (NYSE:OKLO) shares gapped down before the market opened on Tuesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. The stock had previously closed at $30.91, but opened at $28.88. Citigroup currently has a neutral rating on the stock. Oklo shares last traded at $28.85, with a volume of 5,504,129 shares.

Other analysts have also recently issued reports about the company. B. Riley upped their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Craig Hallum began coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Oklo in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Hedge Funds Weigh In On Oklo

A number of large investors have recently modified their holdings of the stock. DRW Securities LLC bought a new position in Oklo in the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Oklo in the third quarter valued at about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Oklo in the third quarter worth about $104,000. Portland Investment Counsel Inc. bought a new stake in Oklo during the 3rd quarter worth about $6,493,000. Finally, Atom Investors LP acquired a new position in Oklo during the 3rd quarter valued at about $657,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Price Performance

The firm’s 50 day moving average price is $36.01 and its 200-day moving average price is $24.20.

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.