Kodiak AI (NASDAQ:KDK) Receives “Buy” Rating from Chardan Capital

Kodiak AI (NASDAQ:KDK)‘s stock had its “buy” rating reiterated by equities research analysts at Chardan Capital in a report released on Wednesday,Benzinga reports. They currently have a $22.00 target price on the stock. Chardan Capital’s target price suggests a potential upside of 186.64% from the company’s current price.

A number of other research analysts have also recently weighed in on KDK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research report on Monday, December 29th. Wall Street Zen cut shares of Kodiak AI to a “strong sell” rating in a research note on Friday, November 28th. Finally, TD Cowen lowered their price target on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.70.

Kodiak AI Stock Performance

Shares of NASDAQ:KDK traded up $0.35 during midday trading on Wednesday, hitting $7.68. The company had a trading volume of 328,426 shares, compared to its average volume of 480,879. The firm has a market cap of $1.40 billion, a P/E ratio of -11.57 and a beta of -0.34. The business has a fifty day simple moving average of $8.75. Kodiak AI has a 12-month low of $5.43 and a 12-month high of $11.62.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $1.05 million during the quarter, compared to analyst estimates of $0.52 million.

Hedge Funds Weigh In On Kodiak AI

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust purchased a new position in Kodiak AI during the fourth quarter valued at $44,000. JPMorgan Chase & Co. purchased a new stake in Kodiak AI in the 3rd quarter worth $36,000. Farther Finance Advisors LLC bought a new position in shares of Kodiak AI during the 4th quarter valued at about $78,000. Ieq Capital LLC bought a new position in shares of Kodiak AI during the 4th quarter valued at about $186,000. Finally, XTX Topco Ltd purchased a new position in shares of Kodiak AI during the fourth quarter valued at about $188,000. Institutional investors own 72.95% of the company’s stock.

About Kodiak AI

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.