Oklo (NYSE:OKLO) Shares Gap Up – Time to Buy?

Oklo Inc. (NYSE:OKLO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $20.13, but opened at $21.06. Oklo shares last traded at $21.06, with a volume of 2,584,965 shares trading hands.

Wall Street Analysts Forecast Growth

OKLO has been the topic of a number of research reports. Seaport Res Ptn raised Oklo to a “hold” rating in a research note on Friday, September 6th. Citigroup cut their price objective on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, B. Riley started coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company.

Oklo Price Performance

The company has a 50 day simple moving average of $18.05 and a 200-day simple moving average of $11.56.

Institutional Trading of Oklo

A number of institutional investors have recently modified their holdings of OKLO. Barclays PLC bought a new stake in Oklo during the 3rd quarter worth approximately $58,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Oklo in the third quarter worth $94,000. Peapack Gladstone Financial Corp bought a new stake in Oklo during the third quarter valued at $100,000. Sanctuary Advisors LLC bought a new position in Oklo in the 3rd quarter worth about $100,000. Finally, MML Investors Services LLC purchased a new stake in shares of Oklo in the 3rd quarter valued at about $104,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

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.