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

Oklo Inc. (NYSE:OKLO) shares traded down 8.8% 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 traded hands 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 equities research analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Oklo in a research note on Tuesday. Craig Hallum began coverage on Oklo in a report on Tuesday, January 28th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, B. Riley lifted their price target on Oklo from $27.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC bought a new position in Oklo during the third quarter valued at $19,753,000. Vanguard Group Inc. increased its position in shares of Oklo by 92.8% in the fourth quarter. Vanguard Group Inc. now owns 4,343,679 shares of the company’s stock worth $92,216,000 after purchasing an additional 2,090,154 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Oklo in the 4th quarter worth $38,661,000. Atomi Financial Group Inc. purchased a new stake in Oklo during the fourth quarter valued at about $19,285,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Oklo during the 4th quarter valued at about $17,104,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

Oklo Stock Performance

The firm’s 50 day simple moving average is $36.13 and its 200 day simple moving average is $24.36.

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.