Oklo (NYSE:OKLO) Stock Price Down 3.8% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 3.8% during mid-day trading on Monday . The stock traded as low as $22.45 and last traded at $22.65. 4,013,553 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 5,689,394 shares. The stock had previously closed at $23.54.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OKLO shares. Seaport Res Ptn raised Oklo to a “hold” rating in a research report on Friday, September 6th. B. Riley began coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th.

Oklo Price Performance

The business has a 50-day moving average of $17.54 and a 200 day moving average of $11.40.

Hedge Funds Weigh In On Oklo

A number of large investors have recently modified their holdings of the company. Peapack Gladstone Financial Corp acquired a new position in Oklo during the 3rd quarter valued at about $100,000. Sanctuary Advisors LLC purchased a new position in shares of Oklo during the third quarter valued at approximately $100,000. Barclays PLC purchased a new position in shares of Oklo during the third quarter valued at approximately $58,000. Geode Capital Management LLC bought a new stake in Oklo during the third quarter worth $5,971,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Oklo in the 3rd quarter valued at $94,000. 85.03% of the stock is currently owned by institutional investors.

About Oklo

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.