Oklo (NYSE:OKLO) Stock Price Down 7.7% – What’s Next?

Shares of Oklo Inc. (NYSE:OKLO) fell 7.7% on Monday . The company traded as low as $19.41 and last traded at $19.87. 6,770,159 shares changed hands during trading, an increase of 9% from the average session volume of 6,199,825 shares. The stock had previously closed at $21.52.

Analysts Set New Price Targets

OKLO has been the subject of several analyst reports. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a report on Friday, September 6th. Citigroup reduced their price objective on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Wedbush assumed coverage on shares of Oklo in a research report on Thursday. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, B. Riley started coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price for the company.

Oklo Trading Up 1.2 %

The stock has a 50-day moving average price of $20.73 and a two-hundred day moving average price of $12.52.

Institutional Trading of Oklo

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

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.