Kodiak AI (NASDAQ:KDK) Coverage Initiated at Craig Hallum

Equities researchers at Craig Hallum began coverage on shares of Kodiak AI (NASDAQ:KDK) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $12.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 95.44% from the company’s current price.

KDK has been the topic of a number of other research reports. TD Cowen cut their price objective on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Citigroup cut their price objective on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Northland Securities set a $11.00 price objective on shares of Kodiak AI in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Kodiak AI from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak AI in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Kodiak AI Stock Performance

KDK stock opened at $6.14 on Monday. Kodiak AI has a one year low of $5.43 and a one year high of $11.48. The company’s fifty day moving average price is $7.86 and its 200-day moving average price is $8.35. The company has a market capitalization of $1.13 billion, a PE ratio of -6.75 and a beta of 0.26.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KDK. JPMorgan Chase & Co. bought a new position in shares of Kodiak AI in the third quarter worth about $36,000. ARK Investment Management LLC bought a new position in shares of Kodiak AI in the third quarter worth about $6,290,000. Amova Asset Management Americas Inc. bought a new position in shares of Kodiak AI in the third quarter worth about $4,228,000. Barclays PLC bought a new position in shares of Kodiak AI in the third quarter worth about $830,000. Finally, UBS Group AG bought a new position in shares of Kodiak AI in the third quarter worth about $1,059,000. 72.95% of the stock is currently owned by institutional investors.

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.