Oklo (NYSE:OKLO) Shares Down 6% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) fell 6% on Tuesday . The stock traded as low as $17.21 and last traded at $17.38. 3,113,083 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 5,831,274 shares. The stock had previously closed at $18.48.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKLO. Citigroup decreased their price target on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. 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. Finally, Seaport Res Ptn raised Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Stock Performance

The firm has a 50 day moving average of $19.90 and a 200 day moving average of $12.22.

Institutional Investors Weigh In On Oklo

Several large investors have recently added to or reduced their stakes in the business. Portland Investment Counsel Inc. bought a new position in Oklo in the third quarter worth approximately $6,493,000. HITE Hedge Asset Management LLC bought a new position in Oklo in the third quarter worth approximately $19,753,000. DRW Securities LLC bought a new position in Oklo in the third quarter worth approximately $404,000. Atom Investors LP bought a new position in Oklo in the third quarter worth approximately $657,000. Finally, Point72 Asset Management L.P. bought a new position in Oklo in the third quarter worth approximately $1,023,000. 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.