Oklo (NYSE:OKLO) Stock Price Down 1.6% – Here’s What Happened

Shares of Oklo Inc. (NYSE:OKLO) were down 1.6% during trading on Wednesday . The company traded as low as $17.90 and last traded at $18.13. Approximately 3,624,505 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 5,806,145 shares. The stock had previously closed at $18.42.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OKLO shares. Citigroup cut their price objective 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. Seaport Res Ptn upgraded shares of Oklo to a “hold” rating in a report on Friday, September 6th. Finally, B. Riley assumed coverage on shares of Oklo in a report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective on the stock.

Oklo Price Performance

The business’s 50 day moving average price is $19.22 and its 200-day moving average price is $11.99.

Institutional Investors Weigh In On Oklo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Peapack Gladstone Financial Corp acquired a new stake in Oklo during the third quarter worth about $100,000. Sanctuary Advisors LLC bought a new position in Oklo in the 3rd quarter worth about $100,000. Barclays PLC bought a new position in Oklo in the 3rd quarter worth about $58,000. Geode Capital Management LLC bought a new position in Oklo in the 3rd quarter worth about $5,971,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Oklo in the 3rd quarter worth about $94,000. Institutional investors and hedge funds 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.