Oklo (NYSE:OKLO) Shares Down 3.9% – Here’s Why

Oklo Inc. (NYSE:OKLO) shares dropped 3.9% during mid-day trading on Monday . The stock traded as low as $22.85 and last traded at $23.52. Approximately 5,254,835 shares changed hands during trading, an increase of 7% from the average daily volume of 4,891,362 shares. The stock had previously closed at $24.47.

Analyst Upgrades and Downgrades

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

Oklo Stock Up 2.3 %

The company’s 50-day moving average price is $13.35.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($5.17) EPS for the quarter. On average, equities research analysts predict that Oklo Inc. will post -2.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Oklo stock. DRW Securities LLC acquired a new position in shares of Oklo Inc. (NYSE:OKLO) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $404,000. 85.03% of the stock is owned by institutional investors.

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.