Oklo (NYSE:OKLO) Shares Down 7.2% – What’s Next?

Oklo Inc. (NYSE:OKLO) shares were down 7.2% on Monday . The stock traded as low as $22.23 and last traded at $23.38. Approximately 8,512,167 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 5,617,692 shares. The stock had previously closed at $25.20.

Analyst Ratings Changes

Several brokerages have recently commented on OKLO. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. B. Riley started coverage on Oklo in a research note on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Citigroup decreased their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th.

Oklo Price Performance

The stock’s 50-day moving average price is $16.93 and its 200-day moving average price is $11.22.

Institutional Trading of Oklo

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

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.