Oklo (NYSE:OKLO) Trading Down 1.4% – Should You Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 1.4% during trading on Wednesday . The stock traded as low as $21.31 and last traded at $21.74. 3,778,550 shares changed hands during trading, a decline of 33% from the average session volume of 5,666,612 shares. The stock had previously closed at $22.04.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a report on Friday, September 6th. Citigroup dropped their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, B. Riley initiated coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company.

Oklo Stock Performance

The company’s 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $11.16.

Hedge Funds Weigh In On Oklo

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

Oklo Company Profile

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.