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

Kodiak AI (NASDAQ:KDK) had its price target decreased by stock analysts at Chardan Capital to $4.50 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital‘s price objective indicates a potential upside of 341.18% from the stock’s current price.

Several other research analysts also recently commented on KDK. Needham & Company LLC started coverage on Kodiak AI in a report on Wednesday, September 9th. They set a “buy” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak AI in a research note on Thursday, October 15th. Zacks Research raised Kodiak AI from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 14th. Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Finally, Morgan Stanley started coverage on Kodiak AI in a research note on Friday, September 11th. They issued an “equal weight” rating and a $9.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak AI has an average rating of “Moderate Buy” and a consensus price target of $9.69.

Kodiak AI Trading Down 1.9%

Shares of KDK traded down $0.02 during mid-day trading on Thursday, reaching $1.02. The company’s stock had a trading volume of 9,872,281 shares, compared to its average volume of 1,636,072. The stock has a market cap of $204.63 million, a P/E ratio of -0.22 and a beta of 0.60. The business has a 50-day simple moving average of $2.83 and a two-hundred day simple moving average of $5.16. Kodiak AI has a 1-year low of $0.96 and a 1-year high of $11.35.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings data 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 during the quarter. Research analysts anticipate that Kodiak AI will post -0.93 EPS for the current year.

Institutional Trading of Kodiak AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Kodiak AI by 143.5% during the 1st quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock worth $179,000 after purchasing an additional 15,190 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in Kodiak AI during the 1st quarter worth approximately $119,000. The Manufacturers Life Insurance Company bought a new stake in Kodiak AI during the 1st quarter worth approximately $125,000. Royal Bank of Canada increased its holdings in Kodiak AI by 502.2% during the 1st quarter. Royal Bank of Canada now owns 24,689 shares of the company’s stock worth $171,000 after purchasing an additional 20,589 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Kodiak AI during the 2nd quarter worth approximately $121,000. 72.95% of the stock is owned by institutional investors.

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.