Oklo (NYSE:OKLO) Trading Up 5% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) shares traded up 5% during mid-day trading on Thursday . The stock traded as high as $22.08 and last traded at $21.99. 5,784,093 shares were traded during trading, an increase of 6% from the average session volume of 5,477,912 shares. The stock had previously closed at $20.95.

Wall Street Analysts Forecast Growth

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

Oklo Price Performance

The business has a 50 day moving average price of $15.96 and a 200 day moving average price of $11.00.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently modified their holdings of OKLO. HITE Hedge Asset Management LLC acquired a new position in Oklo during the 3rd quarter valued at $19,753,000. Portland Investment Counsel Inc. bought a new position in shares of Oklo during the 3rd quarter worth about $6,493,000. Readystate Asset Management LP acquired a new position in shares of Oklo during the third quarter valued at about $6,193,000. Geode Capital Management LLC acquired a new position in shares of Oklo during the third quarter valued at about $5,971,000. Finally, State Street Corp bought a new stake in shares of Oklo in the third quarter valued at about $2,889,000. 85.03% of the stock is owned by 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.