Oklo (NYSE:OKLO) Shares Down 2.2% – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price fell 2.2% during mid-day trading on Thursday . The stock traded as low as $19.58 and last traded at $19.90. 3,203,698 shares traded hands during trading, a decline of 44% from the average session volume of 5,744,926 shares. The stock had previously closed at $20.34.

Analyst Ratings Changes

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

Oklo Trading Up 9.1 %

The stock has a 50-day moving average price of $18.52 and a 200-day moving average price of $11.68.

Hedge Funds Weigh In On Oklo

Large investors have recently modified their holdings of the company. DRW Securities LLC purchased a new position in shares of Oklo during the third quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of 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 Oklo in the 3rd quarter worth about $104,000. Portland Investment Counsel Inc. purchased a new stake in shares of Oklo during the 3rd quarter valued at about $6,493,000. Finally, Atom Investors LP bought a new stake in Oklo in the 3rd quarter worth approximately $657,000. 85.03% of the stock is owned by hedge funds and other institutional investors.

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.