Oklo (NYSE:OKLO) Stock Price Down 18.4% – Time to Sell?

Oklo Inc. (NYSE:OKLO)’s share price fell 18.4% during trading on Friday . The company traded as low as $19.03 and last traded at $19.49. Approximately 12,771,262 shares traded hands during mid-day trading, an increase of 149% from the average session volume of 5,135,345 shares. The stock had previously closed at $23.88.

Analyst Upgrades and Downgrades

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

Oklo Price Performance

The firm has a fifty day simple moving average of $14.30.

Institutional Investors Weigh In On Oklo

Several institutional investors have recently made changes to their positions in OKLO. Geode Capital Management LLC bought a new position in Oklo during the third quarter valued at about $5,971,000. Barclays PLC bought a new position in shares of Oklo in the 3rd quarter valued at approximately $58,000. Y Intercept Hong Kong Ltd bought a new position in shares of Oklo in the 3rd quarter valued at approximately $94,000. MML Investors Services LLC acquired a new position in Oklo during the third quarter valued at approximately $104,000. Finally, Yaupon Capital Management LP bought a new position in shares of Oklo in the third quarter valued at approximately $1,412,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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.