Oklo (NYSE:OKLO) Shares Down 3.6% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) fell 3.6% during mid-day trading on Wednesday . The company traded as low as $19.53 and last traded at $21.02. 9,693,220 shares traded hands during mid-day trading, an increase of 78% from the average session volume of 5,442,512 shares. The stock had previously closed at $21.80.

Wall Street Analyst Weigh In

OKLO has been the subject of several analyst reports. B. Riley assumed coverage on shares of Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target for the company. 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 research report on Tuesday, September 24th. Finally, Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Trading Down 6.8 %

The business’s 50 day moving average is $14.92 and its two-hundred day moving average is $10.73.

Institutional Investors Weigh In On Oklo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKLO. Barclays PLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $58,000. Y Intercept Hong Kong Ltd acquired a new position in Oklo in the third quarter worth approximately $94,000. Stifel Financial Corp acquired a new position in Oklo in the third quarter worth approximately $104,000. MML Investors Services LLC bought a new position in shares of Oklo in the third quarter valued at $104,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo during the 3rd quarter valued at $104,000. Institutional investors 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.