Oklo (NYSE:OKLO) Shares Gap Down – What’s Next?

Oklo Inc. (NYSE:OKLO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $23.88, but opened at $21.00. Oklo shares last traded at $19.96, with a volume of 7,397,846 shares changing hands.

Analyst Upgrades and Downgrades

OKLO has been the subject of a number of research reports. B. Riley started coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. 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, Seaport Res Ptn upgraded Oklo to a “hold” rating in a research note on Friday, September 6th.

Oklo Price Performance

The stock’s fifty day simple moving average is $14.06.

Oklo (NYSE:OKLO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($5.17) earnings per share (EPS) for the quarter. On average, research analysts anticipate that Oklo Inc. will post -2.92 earnings per share for the current fiscal year.

Institutional Trading of Oklo

Large investors have recently modified their holdings of the business. HITE Hedge Asset Management LLC purchased a new position in shares of Oklo during the third quarter valued at approximately $19,753,000. Portland Investment Counsel Inc. purchased a new position in shares of Oklo during the 3rd quarter worth $6,493,000. Atom Investors LP acquired a new stake in shares of Oklo during the third quarter worth $657,000. DRW Securities LLC purchased a new stake in shares of Oklo in the third quarter valued at $404,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Oklo in the third quarter valued at $135,000. 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.