Chardan Capital Reiterates Buy Rating for Kodiak AI (NASDAQ:KDK)

Kodiak AI (NASDAQ:KDK)‘s stock had its “buy” rating reissued by Chardan Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the stock. Chardan Capital’s target price would indicate a potential upside of 190.24% from the company’s previous close.

Several other research analysts also recently issued reports on KDK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak AI in a report on Monday, December 29th. Wall Street Zen downgraded Kodiak AI to a “strong sell” rating in a report on Friday, November 28th. Finally, TD Cowen lowered their target price on Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Kodiak AI Stock Up 0.4%

Shares of Kodiak AI stock opened at $7.58 on Wednesday. The firm’s 50 day moving average is $8.68. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -11.48 and a beta of -0.34. Kodiak AI has a 1 year low of $5.43 and a 1 year high of $11.62.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The company had revenue of $1.05 million for the quarter, compared to analyst estimates of $0.52 million.

Hedge Funds Weigh In On Kodiak AI

A number of hedge funds have recently modified their holdings of KDK. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI in the fourth quarter worth $44,000. JPMorgan Chase & Co. bought a new position in Kodiak AI during the 3rd quarter worth $36,000. Farther Finance Advisors LLC bought a new position in Kodiak AI during the 4th quarter worth $78,000. Ieq Capital LLC acquired a new position in Kodiak AI during the 4th quarter worth about $186,000. Finally, XTX Topco Ltd acquired a new position in Kodiak AI during the 4th quarter worth about $188,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Kodiak AI

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.