Oklo (NYSE:OKLO) Shares Down 11.5% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) traded down 11.5% during mid-day trading on Thursday . The company traded as low as $14.20 and last traded at $14.63. 12,787,366 shares changed hands during trading, an increase of 337% from the average session volume of 2,924,757 shares. The stock had previously closed at $16.54.

Analyst Ratings Changes

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

Oklo Stock Performance

The company has a fifty day moving average of $8.16.

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

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.