Chardan Capital Issues Pessimistic Forecast for Kodiak AI (NASDAQ:KDK) Stock Price

Kodiak AI (NASDAQ:KDK - Get Free Report) had its price target cut by equities research analysts at Chardan Capital to $4.50 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's price objective points to a potential upside of 287.93% from the stock's current price.

Several other analysts also recently weighed in on KDK. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kodiak AI in a research note on Thursday, October 15th. Oppenheimer began coverage on Kodiak AI in a report on Tuesday, August 25th. They issued an "outperform" rating and a $9.00 price objective for the company. Wall Street Zen cut Kodiak AI from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Needham & Company LLC began coverage on Kodiak AI in a report on Wednesday, September 9th. They issued a "buy" rating and a $8.00 price objective for the company. Finally, Zacks Research raised Kodiak AI from a "strong sell" rating to a "hold" rating in a report on Wednesday, October 14th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $9.69.

Kodiak AI Stock Performance

Kodiak AI stock opened at $1.16 on Thursday. The business's 50-day simple moving average is $2.95 and its two-hundred day simple moving average is $5.23. The company has a market cap of $232.72 million, a PE ratio of -0.25 and a beta of 0.60. Kodiak AI has a fifty-two week low of $1.13 and a fifty-two week high of $11.35.

Kodiak AI (NASDAQ:KDK - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $3.50 million during the quarter. As a group, analysts predict that Kodiak AI will post -0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak AI

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake 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 buying an additional 15,190 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in Kodiak AI during the 1st quarter worth approximately $119,000. The Manufacturers Life Insurance Company purchased a new stake in Kodiak AI during the 1st quarter worth approximately $125,000. Royal Bank of Canada increased its stake 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 buying an additional 20,589 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Kodiak AI during the 2nd quarter worth approximately $121,000. 72.95% of the stock is currently owned by hedge funds and other 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.