Kodiak AI (NASDAQ:KDK) Reaches New 12-Month Low Following Analyst Downgrade

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

A number of other equities research analysts have also issued reports on KDK. Chardan Capital restated 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 note on Monday, November 10th. They set a “buy” rating and a $14.00 target price on the stock. Cantor Fitzgerald began coverage on Kodiak AI in a report on Monday, October 20th. They issued an “overweight” rating and a $13.00 target price for the company. Citigroup started coverage on Kodiak AI in a report on Monday, October 20th. They set a “buy” rating and a $13.50 price target on the stock. Finally, Northland Securities set a $17.00 price objective on Kodiak AI in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Institutional Investors Weigh In On Kodiak AI

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

Kodiak AI Trading Down 4.7%

The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -16.82 and a beta of -0.03. The business has a 50 day simple moving average of $7.76.

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