Kodiak AI (NASDAQ:KDK) Lowered to Sell Rating by Wall Street Zen

Kodiak AI (NASDAQ:KDK) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

KDK has been the subject of several other research reports. Chardan Capital cut their target price 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. TD Cowen lowered their price target on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Craig Hallum assumed coverage on Kodiak AI in a research note on Monday, June 15th. They set a “buy” rating and a $12.00 price objective for the company. Northland Securities set a $11.00 price objective on Kodiak AI in a report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.50.

Kodiak AI Trading Down 0.3%

KDK stock opened at $5.12 on Friday. Kodiak AI has a 1-year low of $5.00 and a 1-year high of $11.48. The firm has a market cap of $942.23 million, a P/E ratio of -5.63 and a beta of 0.26. The business’s 50 day moving average is $7.46 and its 200-day moving average is $8.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC grew its position in Kodiak AI by 190.3% during the 4th quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock worth $29,150,000 after acquiring an additional 1,749,863 shares during the last quarter. Rokos Capital Management US LP acquired a new stake in Kodiak AI in the third quarter worth about $14,185,000. Amova Asset Management Americas Inc. grew its position in shares of Kodiak AI by 112.5% during the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after buying an additional 888,480 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Kodiak AI by 112.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock valued at $11,645,000 after acquiring an additional 888,480 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 valued at $13,254,000 after purchasing an additional 1,066,128 shares during the last quarter. 72.95% of the stock is owned by institutional investors and hedge funds.

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.