Kodiak AI (NASDAQ:KDK) Price Target Cut to $4.50 by Analysts at Chardan Capital

Kodiak AI (NASDAQ:KDK) had its price objective reduced by research analysts at Chardan Capital to $4.50 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital‘s target price would suggest a potential upside of 341.18% from the stock’s previous close.

Several other equities analysts have also recently commented on KDK. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Kodiak AI in a research note on Monday, September 28th. Needham & Company LLC initiated coverage on shares of Kodiak AI in a research note on Wednesday, September 9th. They set a “buy” rating and a $8.00 target price on the stock. Oppenheimer initiated coverage on shares of Kodiak AI in a research note on Tuesday, August 25th. They set an “outperform” rating and a $9.00 target price on the stock. Finally, Wall Street Zen cut shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.69.

Kodiak AI Price Performance

Shares of KDK stock traded down $0.02 during trading hours on Thursday, reaching $1.02. The stock had a trading volume of 9,872,165 shares, compared to its average volume of 1,636,052. Kodiak AI has a twelve month low of $0.96 and a twelve month high of $11.35. The firm has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $5.18. The firm has a market capitalization of $204.63 million, a PE ratio of -0.22 and a beta of 0.60.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The company 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.

Hedge Funds Weigh In On Kodiak AI

Several large investors have recently made changes to their positions in KDK. The Manufacturers Life Insurance Company bought a new position in shares of Kodiak AI during the 2nd quarter valued at about $103,000. Curated Wealth Partners LLC bought a new position in shares of Kodiak AI during the 3rd quarter valued at about $114,000. Cannon Global Investment Management LLC bought a new position in shares of Kodiak AI during the 1st quarter valued at about $119,000. HighTower Advisors LLC bought a new position in shares of Kodiak AI during the 2nd quarter valued at about $121,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Kodiak AI during the 2nd quarter valued at about $130,000. 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.