Oklo (NYSE:OKLO) Shares Down 2.9% - Here's Why

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price dropped 2.9% during trading on Monday . The stock traded as low as $20.88 and last traded at $21.27. Approximately 4,379,652 shares were traded during trading, a decline of 24% from the average daily volume of 5,774,211 shares. The stock had previously closed at $21.91.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKLO. B. Riley began coverage on Oklo in a research report on Thursday, September 19th. They issued a "buy" rating and a $10.00 target price on the stock. Citigroup cut 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 upgraded shares of Oklo to a "hold" rating in a report on Friday, September 6th.

Oklo Stock Performance

The business has a fifty day moving average of $18.79 and a two-hundred day moving average of $11.85.

Institutional Investors Weigh In On Oklo

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

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.

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