Oklo (NYSE:OKLO) Trading Down 0.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s stock price fell 0.4% during mid-day trading on Thursday . The stock traded as low as $21.01 and last traded at $21.95. 7,799,538 shares were traded during trading, an increase of 37% from the average session volume of 5,686,206 shares. The stock had previously closed at $22.04.

Analysts Set New Price Targets

Several brokerages have weighed in on OKLO. B. Riley started coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th. Finally, Citigroup cut their price target 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.

Oklo Stock Performance

The stock has a 50-day simple moving average of $16.93 and a 200 day simple moving average of $11.22.

Institutional Investors Weigh In On Oklo

Institutional investors and hedge funds have recently modified their holdings of the company. HITE Hedge Asset Management LLC purchased a new position in Oklo during the 3rd quarter worth approximately $19,753,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the third quarter worth $6,493,000. Readystate Asset Management LP purchased a new position in shares of Oklo during the third quarter worth $6,193,000. Geode Capital Management LLC acquired a new position in Oklo during the third quarter valued at $5,971,000. Finally, State Street Corp acquired a new position in Oklo during the third quarter valued at $2,889,000. Institutional investors and hedge funds 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.