Chardan Capital Reaffirms “Buy” Rating for Kodiak AI (NASDAQ:KDK)

Kodiak AI (NASDAQ:KDK)‘s stock had its “buy” rating reiterated by Chardan Capital in a report released on Thursday,Benzinga reports. They currently have a $22.00 target price on the stock. Chardan Capital’s price objective suggests a potential upside of 226.41% from the stock’s previous close.

KDK has been the topic of several other reports. Weiss Ratings began coverage on shares of Kodiak AI in a report on Saturday, October 11th. They issued a “sell (e+)” rating on the stock. Northland Capmk raised shares of Kodiak AI to a “strong-buy” rating in a report on Wednesday, October 29th. Zacks Research raised shares of Kodiak AI to a “hold” rating in a report on Tuesday, October 21st. TD Cowen started coverage on shares of Kodiak AI in a report on Monday, November 10th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on Kodiak AI in a report on Monday, October 20th. They set an “overweight” rating and a $13.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given 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 company has an average rating of “Moderate Buy” and a consensus target price of $15.90.

Kodiak AI Stock Up 3.5%

KDK opened at $6.74 on Thursday. Kodiak AI has a 12-month low of $5.77 and a 12-month high of $11.62. The company has a market capitalization of $416.94 million, a PE ratio of 25.92 and a beta of -0.18.

Kodiak AI (NASDAQ:KDK) last posted its earnings results on Wednesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.33). The company had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.50 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Rokos Capital Management US LP bought a new position in shares of Kodiak AI during the third quarter worth approximately $14,185,000. ARK Investment Management LLC acquired a new stake in Kodiak AI during the third quarter worth approximately $6,290,000. AQR Arbitrage LLC bought a new position in Kodiak AI during the 3rd quarter worth $4,802,000. Amova Asset Management Americas Inc. bought a new position in Kodiak AI during the 3rd quarter worth $4,228,000. Finally, UBS Group AG acquired a new position in Kodiak AI in the 3rd quarter valued at $1,059,000. Institutional investors and hedge funds 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.