Kardigan (NASDAQ:KARD) Stock Rating Upgraded by UBS Group

Key Points

• UBS Group upgraded Kardigan to “strong buy,” adding to a mixed analyst outlook. The stock has a consensus “Moderate Buy” rating and an average price target of $38.80.
• Kardigan shares opened at $12.97, near their 12-month low of $12.23 and well below the 12-month high of $27.00. The company reported a quarterly loss of $4.61 per share.
• Several institutional investors established new positions in Kardigan during the second quarter, including Jupiter Topco, Montanova Capital, Bank of New York Mellon, Braidwell and Citadel Advisors.

Kardigan (NASDAQ:KARD - Get Free Report) was upgraded by equities research analysts at UBS Group to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

A number of other equities research analysts have also recently commented on the company. Leerink Partners initiated coverage on Kardigan in a research note on Monday, July 13th. They set an "outperform" rating and a $37.00 target price on the stock. JPMorgan Chase & Co. cut their price target 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. Wall Street Zen lowered shares of Kardigan from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. TD Cowen assumed coverage on shares of Kardigan in a report on Monday, July 13th. They set a "buy" rating and a $46.00 price objective for the company. Finally, Zacks Research raised shares of Kardigan to a "hold" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.

Kardigan Price Performance

Shares of KARD opened at $12.97 on Monday. The firm's 50 day simple moving average is $18.31. Kardigan has a 12 month low of $12.23 and a 12 month high of $27.00.

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

Institutional Trading of Kardigan

Large investors have recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in shares of Kardigan in the second quarter valued at $17,715,000. Montanova Capital LLC bought a new position in shares of Kardigan during the 2nd quarter worth $9,540,000. Bank of New York Mellon Corp bought a new position in shares of Kardigan during the 2nd quarter worth $9,010,000. Braidwell LP bought a new position in shares of Kardigan during the 2nd quarter worth $7,155,000. Finally, Citadel Advisors LLC purchased a new stake in Kardigan in the 2nd quarter worth about $2,862,000.

Kardigan Company Profile

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