Oklo (NYSE:OKLO) Stock Price Up 10.1% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded up 10.1% during mid-day trading on Friday . The stock traded as high as $24.35 and last traded at $24.16. 5,921,024 shares traded hands during trading, an increase of 4% from the average session volume of 5,683,593 shares. The stock had previously closed at $21.95.

Analyst Ratings Changes

OKLO has been the topic of several research analyst reports. Seaport Res Ptn raised shares of 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 for the company in a research report on Tuesday, September 24th. Finally, B. Riley initiated coverage on shares of Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 price target on the stock.

Oklo Trading Up 7.7 %

The firm’s 50-day simple moving average is $17.24 and its 200 day simple moving average is $11.29.

Hedge Funds Weigh In On Oklo

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

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.