Oklo (NYSE:OKLO) Stock Price Down 7.2% – Here’s Why

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

Analyst Ratings Changes

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

Oklo Stock Performance

The stock has a 50 day moving average price of $15.96 and a two-hundred day moving average price of $11.00.

Institutional Investors Weigh In On Oklo

A number of institutional investors have recently modified their holdings of OKLO. Barclays PLC acquired a new stake in Oklo during the third quarter worth approximately $58,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Oklo during the 3rd quarter valued at $94,000. Sanctuary Advisors LLC acquired a new stake in shares of Oklo during the 3rd quarter worth $100,000. MML Investors Services LLC bought a new position in shares of Oklo in the third quarter worth $104,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo in the third quarter valued at about $104,000. Institutional investors own 85.03% of the company’s stock.

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.