Kodiak AI (NASDAQ:KDK) Stock Price Target Lowered at Chardan Capital

Kodiak AI (NASDAQ:KDK) had its price objective dropped by stock analysts at Chardan Capital to $4.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital‘s price target points to a potential upside of 332.69% from the company’s current price.

Several other brokerages have also recently commented on KDK. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. Oppenheimer started coverage on shares of Kodiak AI in a research report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price target on the stock. Zacks Research raised shares of Kodiak AI from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 14th. Morgan Stanley assumed coverage on Kodiak AI in a research report on Friday, September 11th. They set an “equal weight” rating and a $9.00 price target for the company. Finally, Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. One equities research 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 given a Sell rating to the stock. According to MarketBeat, Kodiak AI has a consensus rating of “Moderate Buy” and a consensus price target of $9.69.

Kodiak AI Trading Down 10.3%

Shares of KDK stock traded down $0.12 on Thursday, hitting $1.04. 4,968,246 shares of the stock were exchanged, compared to its average volume of 1,595,339. The firm has a market capitalization of $208.64 million, a P/E ratio of -0.22 and a beta of 0.60. The business has a 50-day moving average of $2.89 and a 200 day moving average of $5.18. Kodiak AI has a fifty-two week low of $1.03 and a fifty-two week high of $11.35.

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

Institutional Investors Weigh In On Kodiak AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in shares of Kodiak AI in the second quarter valued at about $19,538,000. Sumitomo Mitsui Trust Group Inc. increased 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 stake 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. BlackRock Inc. acquired a new stake in Kodiak AI in the 2nd quarter worth about $9,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Kodiak AI in the 2nd quarter worth about $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.