Oklo (NYSE:OKLO) Shares Down 3.6% - Here's What Happened

Oklo Inc. (NYSE:OKLO - Get Free Report) was down 3.6% on Wednesday . The company traded as low as $19.53 and last traded at $21.02. Approximately 9,693,220 shares traded hands during mid-day trading, an increase of 78% from the average daily volume of 5,442,512 shares. The stock had previously closed at $21.80.

Analyst Upgrades and Downgrades

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

Oklo Stock Down 6.8 %

The business's 50 day moving average is $14.92 and its 200-day moving average is $10.73.

Institutional Trading of Oklo

Institutional investors and hedge funds have recently bought and sold shares of the company. DRW Securities LLC bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in 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 shares of Oklo during the 3rd quarter valued at about $104,000. Portland Investment Counsel Inc. acquired a new stake in Oklo during the third quarter worth about $6,493,000. Finally, Atom Investors LP bought a new position in Oklo in the third quarter worth about $657,000. Institutional investors and hedge funds own 85.03% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.