Kodiak AI (NASDAQ:KDK) Reaches New 52-Week Low – Here’s Why

Kodiak AI, Inc. (NASDAQ:KDK)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $3.76 and last traded at $3.79, with a volume of 856676 shares traded. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KDK. Craig Hallum began coverage on shares of Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 price objective for the company. Northland Securities set a $11.00 target price on shares of Kodiak AI in a research report on Monday, May 11th. Oppenheimer initiated coverage on shares of Kodiak AI in a research note on Tuesday. They issued an “outperform” rating and a $9.00 price target for the company. Weiss Ratings lowered shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Kodiak AI Stock Down 1.0%

The firm has a 50 day moving average price of $4.63 and a 200 day moving average price of $6.79. The stock has a market capitalization of $792.45 million, a PE ratio of -0.84 and a beta of 0.45.

Kodiak AI (NASDAQ:KDK) last announced its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million during the quarter. On average, equities analysts forecast that Kodiak AI, Inc. will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak AI

Hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in shares of Kodiak AI in the second quarter valued at about $19,538,000. ARK Investment Management LLC boosted its holdings in Kodiak AI by 190.3% during the fourth quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock worth $29,150,000 after purchasing an additional 1,749,863 shares during the last quarter. Rokos Capital Management US LP bought a new stake in Kodiak AI in the 3rd quarter worth about $14,185,000. BlackRock Inc. bought a new stake in Kodiak AI in the 2nd quarter worth about $9,073,000. Finally, Amova Asset Management Americas Inc. increased its stake in Kodiak AI by 112.5% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock valued at $11,628,000 after buying an additional 888,480 shares during the last quarter. 72.95% of the stock is owned by hedge funds and other institutional investors.

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. 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.