Oklo (NYSE:OKLO) Shares Down 1.4% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) dropped 1.4% during trading on Wednesday . The company traded as low as $21.31 and last traded at $21.74. Approximately 3,778,550 shares changed hands during trading, a decline of 33% from the average daily volume of 5,666,612 shares. The stock had previously closed at $22.04.

Analyst Upgrades and Downgrades

OKLO has been the subject of several recent research reports. Seaport Res Ptn raised Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley initiated coverage on shares of Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Citigroup lowered their price target on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Price Performance

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

Institutional Investors Weigh In On Oklo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC purchased a new position in Oklo during the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd purchased a new stake in Oklo in the third quarter valued at approximately $94,000. Peapack Gladstone Financial Corp bought a new stake in Oklo during the third quarter valued at approximately $100,000. Sanctuary Advisors LLC purchased a new position in Oklo in the 3rd quarter worth approximately $100,000. Finally, MML Investors Services LLC bought a new position in shares of Oklo in the 3rd quarter worth $104,000. 85.03% of the stock is currently owned by 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.