Kodiak AI (NASDAQ:KDK) Sets New 12-Month Low on Analyst Downgrade

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

KDK has been the subject of a number of other reports. Citigroup assumed coverage on Kodiak AI in a report on Monday, October 20th. They set a “buy” rating and a $13.50 price target for the company. Northland Securities set a $17.00 price target on Kodiak AI in a research note on Thursday, October 30th. Chardan Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of Kodiak AI in a report on Thursday, November 13th. TD Cowen began coverage on shares of Kodiak AI in a research report on Monday, November 10th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Zacks Research raised Kodiak AI to a “hold” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.90.

Institutional Trading of Kodiak AI

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

Kodiak AI Stock Down 6.1%

The firm has a market cap of $1.01 billion, a PE ratio of -16.38 and a beta of -0.04. The business’s 50 day simple moving average is $7.67.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.33). The company had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.50 million.

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.