Chardan Capital Has Lowered Expectations for Kodiak AI (NASDAQ:KDK) Stock Price

Kodiak AI (NASDAQ:KDK) had its price objective lowered by Chardan Capital to $4.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital‘s price objective points to a potential upside of 332.69% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Zacks Research raised Kodiak AI from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 14th. Oppenheimer started coverage on Kodiak AI in a research report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price target on the stock. Needham & Company LLC started coverage on Kodiak AI in a research note on Wednesday, September 9th. They set a “buy” rating and a $8.00 price target on the stock. Citigroup restated a “buy” rating on shares of Kodiak AI in a 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 issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.69.

Kodiak AI Trading Down 10.3%

Shares of NASDAQ:KDK traded down $0.12 during trading on Thursday, reaching $1.04. The company’s stock had a trading volume of 4,961,648 shares, compared to its average volume of 1,595,295. The firm’s 50 day simple moving average is $2.95 and its two-hundred day simple moving average is $5.23. Kodiak AI has a 12 month low of $1.04 and a 12 month high of $11.35. The stock has a market capitalization of $208.64 million, a PE ratio of -0.22 and a beta of 0.60.

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

Institutional Investors Weigh In On Kodiak AI

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

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.