Oklo (NYSE:OKLO) Shares Gap Up - Still a Buy?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $19.10, but opened at $21.41. Oklo shares last traded at $22.40, with a volume of 15,582,881 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lowered their price target on Oklo from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, September 24th. 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 price objective for the company. Finally, Seaport Res Ptn upgraded shares of Oklo to a "hold" rating in a report on Friday, September 6th.

Oklo Stock Down 3.8 %

The business's 50 day moving average is $20.26 and its 200-day moving average is $12.33.

Institutional Trading of Oklo

Institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo in the 3rd quarter valued at $19,753,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the third quarter worth about $6,493,000. Readystate Asset Management LP purchased a new stake in shares of Oklo in the 3rd quarter valued at about $6,193,000. Geode Capital Management LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at about $5,971,000. Finally, State Street Corp purchased a new position in Oklo during the 3rd quarter worth approximately $2,889,000. 85.03% of the stock is owned by hedge funds and other 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.