Oklo (NYSE:OKLO) Stock Price Down 2.2% - Time to Sell?

Oklo Inc. (NYSE:OKLO - Get Free Report)'s stock price fell 2.2% during mid-day trading on Thursday . The stock traded as low as $19.58 and last traded at $19.90. 3,203,698 shares changed hands during trading, a decline of 44% from the average session volume of 5,744,926 shares. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of analyst reports. Seaport Res Ptn raised Oklo to a "hold" rating in a research report on Friday, September 6th. Citigroup lowered their price target 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 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.

Oklo Stock Performance

The firm has a 50 day moving average of $18.29 and a 200-day moving average of $11.63.

Hedge Funds Weigh In On Oklo

Several hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC purchased a new position in Oklo during the third quarter valued at $19,753,000. Portland Investment Counsel Inc. bought a new stake in Oklo in the 3rd quarter worth approximately $6,493,000. Readystate Asset Management LP purchased a new stake in shares of Oklo during the 3rd quarter worth approximately $6,193,000. Geode Capital Management LLC bought a new position in shares of Oklo during the 3rd quarter valued at approximately $5,971,000. Finally, State Street Corp purchased a new position in shares of Oklo in the third quarter valued at $2,889,000. Hedge funds and other institutional investors 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.

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