Oklo (NYSE:OKLO) Stock Price Down 1.7% – Time to Sell?

Oklo Inc. (NYSE:OKLO) dropped 1.7% on Wednesday . The stock traded as low as $18.53 and last traded at $18.78. Approximately 28,942,792 shares were traded during mid-day trading, an increase of 388% from the average daily volume of 5,929,507 shares. The stock had previously closed at $19.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wedbush started coverage on Oklo in a research report on Thursday. They set an “outperform” rating and a $26.00 target price on the stock. Seaport Res Ptn raised Oklo to a “hold” rating in a report on Friday, September 6th. B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Citigroup reduced 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 Stock Performance

The business’s 50 day simple moving average is $20.48 and its 200 day simple moving average is $12.39.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC bought a new position in Oklo during the 3rd quarter valued at about $19,753,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo during the third quarter worth approximately $6,493,000. Readystate Asset Management LP bought a new position in shares of Oklo in the third quarter valued at approximately $6,193,000. Geode Capital Management LLC acquired a new position in shares of Oklo in the 3rd quarter worth approximately $5,971,000. Finally, State Street Corp bought a new stake in Oklo during the 3rd quarter worth approximately $2,889,000. 85.03% of the stock is 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.