Kodiak AI (NASDAQ:KDK) Stock Gets Price Target Cut from Chardan Capital

Kodiak AI (NASDAQ:KDK) had its price target trimmed by Chardan Capital to $4.50 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Oppenheimer began coverage on shares of Kodiak AI in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $9.00 target price for the company. Zacks Research raised Kodiak AI from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 14th. Citigroup restated a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kodiak AI in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.69.

Kodiak AI Price Performance

Shares of KDK opened at $1.02 on Thursday. Kodiak AI has a 1-year low of $0.96 and a 1-year high of $11.35. The company has a market capitalization of $204.63 million, a P/E ratio of -0.22 and a beta of 0.60. The firm’s 50 day simple moving average is $2.83 and its 200 day simple moving average is $5.16.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The business had revenue of $3.50 million for the quarter. On average, equities analysts anticipate that Kodiak AI will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. bought a new stake in shares of Kodiak AI in the 2nd quarter worth approximately $19,538,000. Sumitomo Mitsui Trust Group Inc. raised its position in Kodiak AI by 112.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after purchasing an additional 888,480 shares during the period. Amova Asset Management Americas Inc. raised its position in Kodiak AI by 112.5% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after purchasing an additional 888,480 shares during the period. BlackRock Inc. bought a new stake in Kodiak AI in the second quarter worth $9,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Kodiak AI in the second quarter worth $1,276,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak AI Company Profile

Kodiak AI, Inc develops autonomous vehicle technology designed to help commercial and industrial operators improve the safety, efficiency and reliability of transportation. The company’s platform combines artificial intelligence, sensors, software and vehicle-control systems to support autonomous operation in complex environments.

Founded as Kodiak Robotics, the company initially focused on autonomous long-haul trucking and has developed systems intended for use in freight transportation.