Oklo (NYSE:OKLO) Shares Down 8.8% on Analyst Downgrade

Oklo Inc. (NYSE:OKLO) shares fell 8.8% during trading on Tuesday after Citigroup lowered their price target on the stock from $31.00 to $30.00. Citigroup currently has a neutral rating on the stock. Oklo traded as low as $28.10 and last traded at $28.19. 9,772,903 shares were traded during trading, a decline of 16% from the average session volume of 11,619,570 shares. The stock had previously closed at $30.91.

A number of other research firms have also recently commented on OKLO. Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Oklo in a research note on Tuesday. Craig Hallum began coverage on shares of Oklo in a report on Tuesday, January 28th. They set a “buy” rating and a $44.00 price target on the stock. Finally, B. Riley lifted their price objective on Oklo from $27.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average target price of $44.25.

Institutional Investors Weigh In On Oklo

Hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new position in Oklo during the fourth quarter valued at $27,000. Sandy Spring Bank bought a new position in shares of Oklo in the 4th quarter valued at about $32,000. CoreCap Advisors LLC bought a new position in shares of Oklo in the 4th quarter valued at about $32,000. Covestor Ltd purchased a new position in Oklo in the fourth quarter worth about $34,000. Finally, Anfield Capital Management LLC bought a new stake in Oklo during the fourth quarter worth approximately $43,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Oklo Stock Performance

The business has a 50-day simple moving average of $36.13 and a 200-day simple moving average of $24.36.

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.