Oklo (NYSE:OKLO) Trading Up 4.7% – Time to Buy?

Oklo Inc. (NYSE:OKLO) was up 4.7% on Wednesday . The stock traded as high as $21.20 and last traded at $21.08. Approximately 3,403,246 shares changed hands during trading, a decline of 41% from the average daily volume of 5,732,734 shares. The stock had previously closed at $20.13.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKLO. Citigroup dropped their price objective on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Seaport Res Ptn upgraded Oklo to a “hold” rating in a report on Friday, September 6th. Finally, B. Riley started coverage on Oklo in a research report on Thursday, September 19th. They issued a “buy” rating and a $10.00 target price for the company.

Oklo Stock Performance

The business has a 50-day simple moving average of $18.52 and a two-hundred day simple moving average of $11.68.

Institutional Trading of Oklo

A number of hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at approximately $404,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Oklo in the 3rd quarter valued at approximately $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Oklo in the 3rd quarter valued at approximately $104,000. Portland Investment Counsel Inc. acquired a new stake in shares of Oklo in the 3rd quarter valued at approximately $6,493,000. Finally, Atom Investors LP acquired a new stake in shares of Oklo in the 3rd quarter valued at approximately $657,000. 85.03% of the stock is owned by institutional investors and hedge funds.

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.