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

Kodiak AI (NASDAQ:KDK) had its price objective cut by analysts at Chardan Capital to $4.50 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital‘s price target indicates a potential upside of 347.76% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Zacks Research upgraded shares of Kodiak AI from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. Citigroup reiterated a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Morgan Stanley initiated coverage on Kodiak AI in a research report on Friday, September 11th. They set an “equal weight” rating and a $9.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak AI in a report on Thursday, October 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kodiak AI in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.69.

Kodiak AI Price Performance

Shares of NASDAQ KDK traded down $0.02 during mid-day trading on Thursday, hitting $1.01. The company had a trading volume of 1,784,977 shares, compared to its average volume of 1,635,060. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $5.14. The firm has a market cap of $201.62 million, a P/E ratio of -0.21 and a beta of 0.60. Kodiak AI has a 12 month low of $0.96 and a 12 month 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 analysts’ consensus estimates of ($0.17) by ($0.33). The firm had revenue of $3.50 million during the quarter. As a group, sell-side analysts predict that Kodiak AI will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Kodiak AI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Kodiak AI by 112.5% during 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. BlackRock Inc. acquired a new stake in Kodiak AI during the second quarter valued at approximately $9,073,000. Alyeska Investment Group L.P. acquired a new stake in Kodiak AI in the 2nd quarter valued at approximately $19,538,000. Amova Asset Management Americas Inc. lifted its stake in Kodiak AI by 112.5% during the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock valued at $11,628,000 after purchasing an additional 888,480 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Kodiak AI in the second quarter worth approximately $1,276,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.

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.