Oklo (NYSE:OKLO) Trading Down 18.4% – What’s Next?

Oklo Inc. (NYSE:OKLO) traded down 18.4% on Friday . The stock traded as low as $19.03 and last traded at $19.49. 12,771,262 shares changed hands during mid-day trading, an increase of 149% from the average session volume of 5,135,345 shares. The stock had previously closed at $23.88.

Wall Street Analysts Forecast Growth

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

Oklo Trading Down 21.9 %

The business has a 50-day simple moving average of $14.06.

Oklo (NYSE:OKLO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($5.17) earnings per share (EPS) for the quarter. As a group, analysts predict that Oklo Inc. will post -2.92 EPS for the current year.

Hedge Funds Weigh In On Oklo

A number of institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Oklo during the 3rd quarter worth $104,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Oklo in the 3rd quarter worth approximately $135,000. DRW Securities LLC bought a new stake in shares of Oklo in the 3rd quarter valued at approximately $404,000. Atom Investors LP acquired a new stake in shares of Oklo during the 3rd quarter valued at approximately $657,000. Finally, Portland Investment Counsel Inc. bought a new position in Oklo during the third quarter worth $6,493,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.