Kodiak AI (NASDAQ:KDK) Reaches New 12-Month Low After Analyst Downgrade

Kodiak AI, Inc. (NASDAQ:KDK) shares reached a new 52-week low during trading on Monday after Wall Street Zen downgraded the stock to a strong sell rating. The stock traded as low as $5.60 and last traded at $5.67, with a volume of 148799 shares. The stock had previously closed at $6.00.

Other research analysts have also issued research reports about the company. Northland Securities set a $17.00 price target on Kodiak AI in a research report on Thursday, October 30th. Northland Capmk upgraded Kodiak AI to a “strong-buy” rating in a research note on Wednesday, October 29th. Citigroup assumed coverage on Kodiak AI in a report on Monday, October 20th. They issued a “buy” rating and a $13.50 price target on the stock. Cantor Fitzgerald started coverage on shares of Kodiak AI in a research report on Monday, October 20th. They set an “overweight” rating and a $13.00 target price for the company. Finally, TD Cowen assumed coverage on Kodiak AI in a research note on Monday, November 10th. They set a “buy” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kodiak AI currently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Hedge Funds Weigh In On Kodiak AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Kodiak AI during the 3rd quarter valued at approximately $36,000. Barclays PLC bought a new stake in Kodiak AI in the third quarter valued at $830,000. UBS Group AG bought a new position in Kodiak AI in the 3rd quarter worth approximately $1,059,000. Meteora Capital LLC acquired a new position in shares of Kodiak AI during the third quarter valued at $3,924,000. Finally, Amova Asset Management Americas Inc. acquired a new position in Kodiak AI during the 3rd quarter valued at about $4,228,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak AI Trading Down 4.7%

The business has a fifty day moving average of $7.76. The stock has a market capitalization of $1.04 billion, a PE ratio of -16.82 and a beta of -0.03.

Kodiak AI (NASDAQ:KDK) last issued its quarterly 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 business had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.50 million.

Kodiak AI Company Profile

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.