Oklo (NYSE:OKLO) Stock Price Down 6.7% After Analyst Downgrade

Oklo Inc. (NYSE:OKLO)’s share price dropped 6.7% during trading on Wednesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. Citigroup currently has a neutral rating on the stock. Oklo traded as low as $26.63 and last traded at $26.98. Approximately 6,056,208 shares traded hands during trading, a decline of 48% from the average daily volume of 11,626,747 shares. The stock had previously closed at $28.93.

A number of other equities research analysts also recently commented on OKLO. Craig Hallum initiated coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Oklo in a research report on Tuesday. Finally, B. Riley lifted their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Hedge Funds Weigh In On Oklo

Several institutional investors and hedge funds have recently modified their holdings of OKLO. Barclays PLC lifted its stake in Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company’s stock valued at $163,000 after buying an additional 416 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Oklo by 18.2% in the fourth quarter. Ancora Advisors LLC now owns 4,610 shares of the company’s stock valued at $98,000 after purchasing an additional 710 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Oklo during the fourth quarter worth about $27,000. CoreCap Advisors LLC bought a new position in shares of Oklo during the fourth quarter worth about $32,000. Finally, Sandy Spring Bank acquired a new stake in Oklo in the 4th quarter valued at approximately $32,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Oklo Price Performance

The company has a 50 day simple moving average of $36.13 and a 200 day simple moving average of $24.36.

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.