Oklo (NYSE:OKLO) Trading Up 3.5% – Here’s Why

Oklo Inc. (NYSE:OKLO) rose 3.5% during trading on Wednesday . The company traded as high as $25.65 and last traded at $23.39. Approximately 12,440,988 shares traded hands during mid-day trading, an increase of 149% from the average daily volume of 5,003,372 shares. The stock had previously closed at $22.59.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OKLO shares. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. Citigroup reduced their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, B. Riley initiated coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target on the stock.

Oklo Price Performance

The stock’s fifty day moving average is $13.69.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, August 13th. The company reported ($5.17) earnings per share (EPS) for the quarter. On average, research analysts anticipate that Oklo Inc. will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Portland Investment Counsel Inc. purchased a new position in Oklo during the third quarter worth approximately $6,493,000. DRW Securities LLC purchased a new stake in Oklo during the 3rd quarter worth approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Oklo during the third quarter valued at approximately $135,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Oklo in the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Oklo

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.