Oklo (NYSE:OKLO) Trading Down 18.4% – What’s Next?

Oklo Inc. (NYSE:OKLO)’s stock price was down 18.4% on Friday . The stock traded as low as $19.03 and last traded at $19.49. Approximately 12,771,262 shares were traded during mid-day trading, an increase of 149% from the average daily volume of 5,135,345 shares. The stock had previously closed at $23.88.

Analyst Ratings Changes

OKLO has been the topic of a number of analyst reports. Citigroup reduced 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. B. Riley initiated coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th.

Oklo Trading Down 21.9 %

The stock’s 50-day simple moving average is $14.06.

Oklo (NYSE:OKLO) last announced its earnings results on Tuesday, August 13th. The company reported ($5.17) EPS for the quarter. As a group, analysts expect that Oklo Inc. will post -2.92 earnings per share for the current year.

Hedge Funds Weigh In On Oklo

A number of large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Oklo during the third quarter worth about $104,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Oklo in the third quarter valued at approximately $135,000. Atom Investors LP acquired a new position in Oklo during the third quarter worth $657,000. HITE Hedge Asset Management LLC purchased a new position in Oklo in the third quarter worth $19,753,000. Finally, Portland Investment Counsel Inc. acquired a new stake in Oklo in the third quarter valued at $6,493,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.