Oklo (NYSE:OKLO) Shares Down 3.8% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares dropped 3.8% during mid-day trading on Monday . The stock traded as low as $22.45 and last traded at $22.65. Approximately 4,013,553 shares were traded during trading, a decline of 29% from the average daily volume of 5,689,394 shares. The stock had previously closed at $23.54.

Wall Street Analysts Forecast Growth

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

Oklo Price Performance

The stock has a 50-day moving average price of $18.05 and a 200-day moving average price of $11.56.

Hedge Funds Weigh In On Oklo

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

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.