Oklo (NYSE:OKLO) Shares Down 2.2% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares fell 2.2% during trading on Thursday . The stock traded as low as $19.58 and last traded at $19.90. 3,203,698 shares were traded during mid-day trading, a decline of 44% from the average session volume of 5,744,926 shares. The stock had previously closed at $20.34.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKLO shares. Citigroup lowered their price objective 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 started coverage on shares of Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th.

Oklo Stock Down 0.0 %

The business has a fifty day moving average of $18.29 and a 200-day moving average of $11.63.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in the business. Portland Investment Counsel Inc. bought a new position in Oklo in the third quarter worth about $6,493,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Oklo during the third quarter worth about $19,753,000. DRW Securities LLC acquired a new stake in Oklo in the 3rd quarter worth approximately $404,000. Atom Investors LP purchased a new stake in Oklo during the 3rd quarter worth approximately $657,000. Finally, Readystate Asset Management LP acquired a new position in Oklo during the 3rd quarter valued at approximately $6,193,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.