Oklo (NYSE:OKLO) Trading Up 10.1% – Should You Buy?

Oklo Inc. (NYSE:OKLO) shares rose 10.1% during mid-day trading on Friday . The company traded as high as $24.35 and last traded at $24.16. Approximately 5,921,024 shares traded hands during trading, an increase of 4% from the average daily volume of 5,683,593 shares. The stock had previously closed at $21.95.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKLO. Citigroup dropped their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. B. Riley began coverage on Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Stock Up 7.7 %

The stock has a 50 day moving average of $17.24 and a two-hundred day moving average of $11.29.

Hedge Funds Weigh In On Oklo

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