Oklo (NYSE:OKLO) Stock Price Up 13.7% – Still a Buy?

Oklo Inc. (NYSE:OKLO) rose 13.7% during trading on Monday . The company traded as high as $21.17 and last traded at $20.47. Approximately 14,891,161 shares traded hands during mid-day trading, an increase of 182% from the average daily volume of 5,284,794 shares. The stock had previously closed at $18.00.

Analyst Upgrades and Downgrades

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

Oklo Stock Performance

The company has a 50 day moving average price of $14.92 and a two-hundred day moving average price of $10.73.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in Oklo in the 3rd quarter valued at $104,000. MML Investors Services LLC purchased a new stake in Oklo in the 3rd quarter valued at $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Oklo in the 3rd quarter valued at $104,000. Y Intercept Hong Kong Ltd purchased a new stake in Oklo in the 3rd quarter valued at $94,000. Finally, National Bank of Canada FI purchased a new stake in Oklo in the 3rd quarter valued at $105,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.