Oklo (NYSE:OKLO) Shares Down 7.1% – Here’s Why

Shares of Oklo Inc. (NYSE:OKLO) dropped 7.1% on Monday . The stock traded as low as $10.31 and last traded at $10.40. Approximately 1,372,108 shares traded hands during trading, a decline of 42% from the average daily volume of 2,360,562 shares. The stock had previously closed at $11.19.

Analysts Set New Price Targets

OKLO has been the subject of several research analyst reports. Seaport Res Ptn raised shares of Oklo to a “hold” rating in a research report on Friday, September 6th. B. Riley initiated coverage on Oklo in a report on Thursday, September 19th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Citigroup reduced their target price on Oklo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th.

Oklo Stock Performance

The stock’s 50-day moving average is $7.42.

Oklo (NYSE:OKLO) last posted its earnings results on Tuesday, August 13th. The company reported ($5.17) earnings per share for the quarter. As a group, research analysts predict that Oklo Inc. will post -2.92 EPS for the current fiscal year.

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.