Oklo (NYSE:OKLO) Trading Down 1.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO) traded down 1.7% during trading on Wednesday . The company traded as low as $18.53 and last traded at $18.78. 28,942,792 shares traded hands during trading, an increase of 388% from the average session volume of 5,929,507 shares. The stock had previously closed at $19.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OKLO shares. B. Riley started coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price on the stock. Citigroup decreased 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, Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research report on Friday, September 6th.

Oklo Stock Performance

The stock has a fifty day moving average price of $20.08 and a 200 day moving average price of $12.28.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. HITE Hedge Asset Management LLC acquired a new stake in Oklo during the third quarter worth $19,753,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the 3rd quarter valued at about $6,493,000. Readystate Asset Management LP bought a new stake in Oklo in the third quarter valued at about $6,193,000. Geode Capital Management LLC acquired a new position in Oklo in the third quarter worth about $5,971,000. Finally, State Street Corp bought a new position in Oklo during the third quarter worth about $2,889,000. 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.