Kodiak AI Sees Unusually High Options Volume (NASDAQ:KDK)

Kodiak AI, Inc. (NASDAQ:KDK) was the target of some unusual options trading on Monday. Stock investors bought 9,853 call options on the company. This is an increase of 100% compared to the typical volume of 4,923 call options.

Hedge Funds Weigh In On Kodiak AI

Several large investors have recently modified their holdings of KDK. JPMorgan Chase & Co. purchased a new stake in Kodiak AI during the 3rd quarter valued at about $36,000. Barclays PLC bought a new position in shares of Kodiak AI in the third quarter worth approximately $830,000. UBS Group AG purchased a new stake in shares of Kodiak AI during the third quarter valued at approximately $1,059,000. Meteora Capital LLC bought a new stake in shares of Kodiak AI during the third quarter valued at approximately $3,924,000. Finally, Amova Asset Management Americas Inc. purchased a new position 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.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Northland Securities set a $17.00 price objective on Kodiak AI in a research note on Thursday, October 30th. Cantor Fitzgerald started coverage on Kodiak AI in a report on Monday, October 20th. They issued an “overweight” rating and a $13.00 target price on the stock. Northland Capmk upgraded shares of Kodiak AI to a “strong-buy” rating in a research note on Wednesday, October 29th. TD Cowen began coverage on shares of Kodiak AI in a report on Monday, November 10th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Kodiak AI Trading Down 5.5%

Shares of KDK opened at $10.28 on Wednesday. Kodiak AI has a fifty-two week low of $5.43 and a fifty-two week high of $11.62. The business has a 50-day simple moving average of $7.69. The stock has a market capitalization of $1.86 billion, a PE ratio of -30.24 and a beta of -0.04.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.33). The company had revenue of $0.77 million during 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. 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.