Oklo (NYSE:OKLO) Stock Price Down 7.2% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s stock price traded down 7.2% on Monday . The stock traded as low as $22.23 and last traded at $23.38. 8,512,167 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 5,617,692 shares. The stock had previously closed at $25.20.

Analysts Set New Price Targets

Several research firms have recently issued reports on OKLO. Citigroup decreased their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. B. Riley assumed coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target 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’s fifty day simple moving average is $15.96 and its 200 day simple moving average is $11.00.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC acquired a new stake in shares of Oklo in the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo in the 3rd quarter valued at about $94,000. Sanctuary Advisors LLC bought a new position in shares of Oklo in the 3rd quarter valued at about $100,000. MML Investors Services LLC acquired a new position in Oklo during the third quarter valued at approximately $104,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Oklo in the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

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.