Oklo (NYSE:OKLO) Stock Price Down 6.9% – Here’s What Happened

Oklo Inc. (NYSE:OKLO) traded down 6.9% on Tuesday . The stock traded as low as $22.35 and last traded at $22.41. 7,579,604 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 4,929,388 shares. The stock had previously closed at $24.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Oklo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. B. Riley assumed coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Seaport Res Ptn upgraded Oklo to a “hold” rating in a research report on Friday, September 6th.

Oklo Price Performance

The business has a 50-day moving average price of $13.69.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($5.17) earnings per share (EPS) for the quarter. Analysts forecast that Oklo Inc. will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Oklo during the 3rd quarter worth approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $135,000. DRW Securities LLC purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $404,000. Finally, Portland Investment Counsel Inc. purchased a new stake in shares of Oklo in the 3rd quarter worth approximately $6,493,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.