Short Interest in Kodiak AI, Inc. (NASDAQ:KDK) Increases By 67.6%

Kodiak AI, Inc. (NASDAQ:KDK) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 8,640,517 shares, an increase of 67.6% from the April 30th total of 5,156,382 shares. Approximately 6.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,572,161 shares, the short-interest ratio is currently 5.5 days.

Institutional Investors Weigh In On Kodiak AI

Institutional investors and hedge funds have recently bought and sold shares of the business. Rokos Capital Management US LP acquired a new position in shares of Kodiak AI in the 3rd quarter valued at $14,185,000. ARK Investment Management LLC increased its stake in Kodiak AI by 190.3% in the fourth quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock valued at $29,150,000 after acquiring an additional 1,749,863 shares during the period. Geode Capital Management LLC raised its position in Kodiak AI by 725.0% in the fourth quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company’s stock worth $13,254,000 after purchasing an additional 1,066,128 shares in the last quarter. Amova Asset Management Americas Inc. raised its position in Kodiak AI by 112.5% in the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Kodiak AI by 112.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after purchasing an additional 888,480 shares during the period. Institutional investors own 72.95% of the company’s stock.

Kodiak AI Trading Down 0.1%

Shares of NASDAQ:KDK opened at $6.88 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of -7.56 and a beta of 0.26. Kodiak AI has a 1-year low of $5.43 and a 1-year high of $11.49. The business’s 50 day moving average is $7.97 and its 200-day moving average is $8.36.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KDK shares. Chardan Capital reduced their price objective on Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Northland Securities set a $11.00 target price on shares of Kodiak AI in a research note on Monday, May 11th. Citigroup reduced their price target on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. 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, TD Cowen dropped their price objective on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Kodiak AI currently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

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.