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

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

Analyst Upgrades and Downgrades

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

Oklo Stock Down 6.8 %

The business’s 50 day moving average is $14.92 and its 200-day moving average is $10.73.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the company. DRW Securities LLC bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Oklo in the third quarter worth $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Oklo during the 3rd quarter valued at about $104,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the third quarter worth about $6,493,000. Finally, Atom Investors LP bought a new position in Oklo in the third quarter worth about $657,000. 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.