Shares of Oklo Inc. (OKLO) tumbled 5.07% during intraday trading on Monday, as investors reacted to a downgrade from a prominent analyst firm. The stock's decline comes amid a broader positive sentiment in the nuclear energy sector, highlighting the impact of the company-specific news.
Craig-Hallum, a well-respected research firm, lowered its rating on Oklo from Buy to Hold, while maintaining a price target of $59. This downgrade appears to be the primary catalyst for the stock's sharp decline, as investors reassess their positions in light of the new analyst perspective.
The downgrade comes at a time when many nuclear-related stocks are seeing gains following reports of U.S. military action against Iranian nuclear sites over the weekend. While companies like NuScale Power and Uranium Energy have seen their shares rise, Oklo's stock has moved in the opposite direction, underscoring the significance of the Craig-Hallum downgrade in investors' minds.
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