Short Interest in Kardigan, Inc. (NASDAQ:KARD) Expands By ∞

Kardigan, Inc. (NASDAQ:KARD) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,468,859 shares, a growth of ∞ from the June 15th total of 0 shares. Based on an average daily trading volume, of 1,091,887 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.6% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, Director Paul L. Berns acquired 1,250,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the transaction, the director directly owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This trade represents a 9.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the purchase, the director directly owned 15,042,035 shares of the company’s stock, valued at approximately $240,672,560. This trade represents a 9.06% increase in their position. The SEC filing for this purchase provides additional information.

Wall Street Analysts Forecast Growth

KARD has been the subject of a number of research reports. Wall Street Zen raised Kardigan to a “hold” rating in a report on Saturday, June 27th. Jefferies Financial Group assumed coverage on shares of Kardigan in a research note on Monday. They issued a “buy” rating and a $40.00 price objective on the stock. TD Cowen initiated coverage on shares of Kardigan in a research report on Monday. They set a “buy” rating and a $46.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Kardigan in a report on Monday, July 13th. They issued an “overweight” rating and a $51.00 price target on the stock. Finally, Zacks Research raised Kardigan to a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Kardigan presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Kardigan Stock Up 0.5%

NASDAQ:KARD opened at $21.13 on Friday. Kardigan has a fifty-two week low of $16.25 and a fifty-two week high of $27.00.