Oklo (NYSE:OKLO) Trading 1.5% Higher – Here’s Why

Oklo Inc. (NYSE:OKLO)’s share price rose 1.5% during mid-day trading on Friday . The company traded as high as $21.37 and last traded at $21.28. Approximately 5,954,386 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 6,141,013 shares. The stock had previously closed at $20.96.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. 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. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a report on Friday, September 6th. Wedbush started coverage on Oklo in a research report on Thursday. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, B. Riley started coverage on Oklo in a research report on Thursday, September 19th. They set a “buy” rating and a $10.00 target price for the company.

Oklo Stock Up 5.6 %

The stock’s fifty day moving average price is $20.48 and its 200 day moving average price is $12.39.

Hedge Funds Weigh In On Oklo

Institutional investors have recently modified their holdings of the company. Barclays PLC bought a new position in shares of Oklo during the 3rd quarter valued at $58,000. Y Intercept Hong Kong Ltd purchased a new stake in Oklo during the third quarter valued at about $94,000. Peapack Gladstone Financial Corp bought a new position in shares of Oklo during the third quarter valued at about $100,000. Sanctuary Advisors LLC purchased a new position in shares of Oklo in the third quarter worth about $100,000. Finally, MML Investors Services LLC bought a new stake in shares of Oklo in the 3rd quarter valued at about $104,000. 85.03% of the stock is currently 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.