Oklo (NYSE:OKLO) Trading 1% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO) shares rose 1% during trading on Tuesday . The company traded as high as $23.77 and last traded at $23.15. Approximately 3,448,191 shares changed hands during trading, a decline of 39% from the average daily volume of 5,650,525 shares. The stock had previously closed at $22.91.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OKLO shares. Seaport Res Ptn upgraded Oklo to a “hold” rating in a research note on Friday, September 6th. B. Riley began coverage on shares of Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Citigroup reduced their target price on shares of Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th.

Oklo Price Performance

The company has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $11.09.

Institutional Investors Weigh In On Oklo

Hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new position in Oklo during the third quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oklo in the 3rd quarter valued at $94,000. Peapack Gladstone Financial Corp bought a new position in shares of Oklo in the 3rd quarter worth $100,000. Sanctuary Advisors LLC purchased a new stake in shares of Oklo during the 3rd quarter worth $100,000. Finally, MML Investors Services LLC purchased a new stake in shares of Oklo during the 3rd quarter worth $104,000. 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.