Oklo (NYSE:OKLO) Shares Gap Down on Analyst Downgrade

Shares of Oklo Inc. (NYSE:OKLO) gapped down before the market opened on Tuesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. The stock had previously closed at $30.91, but opened at $28.88. Citigroup currently has a neutral rating on the stock. Oklo shares last traded at $28.85, with a volume of 5,504,129 shares trading hands.

OKLO has been the subject of a number of other research reports. Craig Hallum began coverage on Oklo in a research report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price objective for the company. B. Riley upped their price objective on shares of Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Oklo in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Institutional Trading of Oklo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new stake in shares of Oklo in the fourth quarter worth $27,000. CoreCap Advisors LLC bought a new stake in Oklo in the 4th quarter valued at $32,000. Sandy Spring Bank bought a new position in shares of Oklo during the 4th quarter worth about $32,000. Covestor Ltd acquired a new position in shares of Oklo during the fourth quarter valued at about $34,000. Finally, Anfield Capital Management LLC bought a new stake in shares of Oklo in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

Oklo Stock Down 9.0 %

The firm has a fifty day simple moving average of $36.01 and a 200 day simple moving average of $24.20.

Oklo Company Profile

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.