Oklo (NYSE:OKLO) Trading Down 1% – Here’s Why

Oklo Inc. (NYSE:OKLO) was down 1% on Friday . The company traded as low as $24.65 and last traded at $24.98. Approximately 5,902,685 shares traded hands during trading, an increase of 6% from the average daily volume of 5,563,354 shares. The stock had previously closed at $25.23.

Analyst Ratings Changes

OKLO has been the subject of several research analyst reports. Citigroup dropped 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. Seaport Res Ptn upgraded Oklo to a “hold” rating in a research report on Friday, September 6th. Finally, B. Riley started coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target on the stock.

Oklo Price Performance

The company has a 50-day simple moving average of $15.96 and a two-hundred day simple moving average of $11.00.

Institutional Investors Weigh In On Oklo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new stake in Oklo in the 3rd quarter worth $19,753,000. Portland Investment Counsel Inc. bought a new stake in shares of Oklo in the third quarter worth about $6,493,000. Readystate Asset Management LP purchased a new position in Oklo during the 3rd quarter valued at about $6,193,000. Geode Capital Management LLC bought a new position in Oklo during the 3rd quarter valued at approximately $5,971,000. Finally, State Street Corp purchased a new stake in Oklo in the 3rd quarter worth approximately $2,889,000. 85.03% of the stock is currently 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.