Kardigan (NASDAQ:KARD) Stock Rated Overweight in New Coverage at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Kardigan with an “overweight” rating and a $50 price target, implying 264.17% upside from the prior close.
• Analyst sentiment is generally positive: Kardigan has a MarketBeat consensus rating of “Moderate Buy” and an average price target of $41, although ratings range from Strong Buy to Sell.
• KARD opened at $13.73, with a $1.28 billion market capitalization and a 52-week range of $12.23 to $27.00. The company reported a quarterly loss of $4.61 per share, while analysts expect a full-year loss of $3.41 per share.

Analysts at Cantor Fitzgerald initiated coverage on shares of Kardigan (NASDAQ:KARD - Get Free Report) in a research note issued on Thursday, Briefing.com reports. The brokerage set an "overweight" rating and a $50.00 price target on the stock. Cantor Fitzgerald's target price indicates a potential upside of 264.17% from the company's previous close.

A number of other brokerages have also issued reports on KARD. Jefferies Financial Group began coverage on shares of Kardigan in a report on Monday, July 13th. They issued a "buy" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Kardigan from $51.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, August 25th. Leerink Partners initiated coverage on shares of Kardigan in a research note on Monday, July 13th. They issued an "outperform" rating and a $37.00 price target for the company. Zacks Research raised shares of Kardigan to a "hold" rating in a research note on Wednesday, July 15th. Finally, Robert W. Baird initiated coverage on shares of Kardigan in a research report on Wednesday, October 21st. They set an "outperform" rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Kardigan Stock Up 1.0%

Shares of KARD stock opened at $13.73 on Thursday. The company has a fifty day moving average price of $16.61. The stock has a market cap of $1.28 billion and a price-to-earnings ratio of -4.77. Kardigan has a fifty-two week low of $12.23 and a fifty-two week high of $27.00.

Kardigan (NASDAQ:KARD - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($4.61) earnings per share (EPS) for the quarter. As a group, equities research analysts predict that Kardigan will post -3.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of KARD. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kardigan in the 3rd quarter valued at approximately $47,000. Legal & General Group Plc acquired a new position in shares of Kardigan in the 2nd quarter worth approximately $119,000. Squarepoint Ops LLC purchased a new position in shares of Kardigan during the 2nd quarter worth approximately $247,000. Alyeska Investment Group L.P. acquired a new stake in Kardigan in the 2nd quarter valued at approximately $716,000. Finally, Bank of America Corp DE acquired a new stake in Kardigan in the 2nd quarter valued at approximately $1,283,000.

About Kardigan

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