Kardigan, Inc. (NASDAQ:KARD) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst consensus is “Moderate Buy” among eight firms, with four buys, two strong buys, one hold and one sell. The average 12-month price target is $39.50, though JPMorgan recently lowered its target to $46 from $51.
• Several institutional investors established new positions in Kardigan during the second quarter, led by Jupiter Topco’s $17.7 million stake and Montanova Capital’s $9.5 million position.
• KARD opened at $12.80, near its 12-month low of $12.23 and well below its $27.00 high. The company reported a quarterly loss of $4.61 per share, while analysts expect a full-year loss of $3.41 per share.

Kardigan, Inc. (NASDAQ:KARD - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $39.50.

A number of analysts recently weighed in on KARD shares. Wall Street Zen cut shares of Kardigan from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings initiated coverage on shares of Kardigan in a research note on Monday, September 14th. They set a "sell (d)" rating for the company. JPMorgan Chase & Co. decreased their price objective on Kardigan from $51.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, August 25th. Leerink Partners started coverage on Kardigan in a report on Monday, July 13th. They set an "outperform" rating and a $37.00 price objective on the stock. Finally, Zacks Research upgraded Kardigan to a "hold" rating in a research note on Wednesday, July 15th.

Institutional Trading of Kardigan

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

Kardigan Trading Up 0.5%

NASDAQ KARD opened at $12.80 on Friday. Kardigan has a twelve month low of $12.23 and a twelve month high of $27.00. The company has a market capitalization of $1.20 billion and a PE ratio of -4.44. The company has a 50-day moving average of $17.06.

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

Kardigan Company Profile

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