Kodiak AI’s (KDK) Buy Rating Reiterated at Chardan Capital

Kodiak AI (NASDAQ:KDK)‘s stock had its “buy” rating restated by Chardan Capital in a note issued to investors on Thursday, Benzinga reports. They currently have a $4.50 price target on the stock. Chardan Capital‘s price objective points to a potential upside of 243.51% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak AI in a research report on Thursday, October 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Kodiak AI in a research report on Monday, September 28th. Citigroup reissued a “buy” rating on shares of Kodiak AI in a report on Wednesday, August 19th. Zacks Research upgraded Kodiak AI from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 14th. Finally, Needham & Company LLC initiated coverage on Kodiak AI in a report on Wednesday, September 9th. They set a “buy” rating and a $8.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kodiak AI has a consensus rating of “Moderate Buy” and a consensus price target of $9.69.

Kodiak AI Stock Performance

NASDAQ:KDK opened at $1.31 on Thursday. The firm’s 50-day moving average is $2.66 and its 200-day moving average is $6.08. The company has a market cap of $262.81 million, a price-to-earnings ratio of -0.28 and a beta of 0.42. Kodiak AI has a 52-week low of $0.96 and a 52-week high of $11.35.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The firm had revenue of $3.50 million for the quarter. Equities analysts predict that Kodiak AI will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KDK. Alyeska Investment Group L.P. bought a new position in shares of Kodiak AI during the 2nd quarter worth about $19,538,000. BlackRock Inc. purchased a new position in Kodiak AI in the 2nd quarter worth approximately $9,073,000. Amova Asset Management Americas Inc. lifted its holdings 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 in the last quarter. 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Kodiak AI during the second quarter worth $1,276,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Kodiak AI

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.