Oklo (NYSE:OKLO) Shares Down 6.3% – Time to Sell?

Oklo Inc. (NYSE:OKLO) dropped 6.3% during mid-day trading on Tuesday . The company traded as low as $20.41 and last traded at $20.84. Approximately 4,952,241 shares changed hands during trading, a decline of 13% from the average daily volume of 5,708,422 shares. The stock had previously closed at $22.23.

Analysts Set New Price Targets

A number of research 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. B. Riley began coverage on Oklo in a research note on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Citigroup lowered their price target on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Trading Down 9.1 %

The stock’s 50-day simple moving average is $17.54 and its two-hundred day simple moving average is $11.40.

Hedge Funds Weigh In On Oklo

A number of hedge funds have recently made changes to their positions in OKLO. Barclays PLC purchased a new stake in shares of Oklo during the third quarter worth approximately $58,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Oklo during the third quarter worth $94,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Oklo in the third quarter valued at about $100,000. Sanctuary Advisors LLC purchased a new position in shares of Oklo in the third quarter worth about $100,000. Finally, MML Investors Services LLC acquired a new position in Oklo during the third quarter worth about $104,000. Institutional investors and hedge funds 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.