Kardigan (NASDAQ:KARD) Stock Lifted to Strong-Buy by Robert W. Baird

Key Points

• Robert W. Baird upgraded Kardigan to “strong buy,” although analyst opinions remain mixed; the stock’s consensus rating is “moderate buy” with a $39.50 price target.
• Kardigan shares opened at $12.74 and were down 0.9%, near their 12-month low of $12.23. The company reported a quarterly loss of $4.61 per share, while analysts expect a full-year loss of $3.72 per share.
• Several hedge funds, including Jupiter Topco, Montanova Capital, Bank of New York Mellon and Braidwell, established new positions in Kardigan during the second quarter.

Kardigan (NASDAQ:KARD - Get Free Report) was upgraded by investment analysts at Robert W. Baird to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings started coverage on shares of Kardigan in a research report on Monday, September 14th. They set a "sell (d)" rating for the company. Jefferies Financial Group started coverage on Kardigan in a research report on Monday, July 13th. They set a "buy" rating and a $40.00 price objective for the company. Wall Street Zen cut Kardigan from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. TD Cowen assumed coverage on shares of Kardigan in a research report on Monday, July 13th. They set a "buy" rating and a $46.00 price objective for the company. Finally, Zacks Research raised Kardigan to a "hold" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kardigan presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.50.

Kardigan Trading Down 0.9%

NASDAQ:KARD opened at $12.74 on Wednesday. The stock has a 50-day simple moving average of $17.21. Kardigan has a twelve month low of $12.23 and a twelve month high of $27.00.

Kardigan (NASDAQ:KARD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($4.61) earnings per share (EPS) for the quarter. On average, research analysts anticipate that Kardigan will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Kardigan

Several hedge funds have recently added to or reduced their stakes in KARD. Jupiter Topco LLC purchased a new position in shares of Kardigan during the second quarter valued at approximately $17,715,000. Montanova Capital LLC acquired a new stake in shares of Kardigan in the second quarter worth $9,540,000. Bank of New York Mellon Corp purchased a new stake in shares of Kardigan during the 2nd quarter valued at about $9,010,000. Braidwell LP purchased a new position in Kardigan in the 2nd quarter valued at about $7,155,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Kardigan during the second quarter worth approximately $2,862,000.

About Kardigan

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