Kodiak AI (NASDAQ:KDK) Trading Up 3.2% – Here’s Why

Kodiak AI, Inc. (NASDAQ:KDK)’s share price was up 3.2% on Monday . The company traded as high as $10.67 and last traded at $10.63. Approximately 105,041 shares traded hands during trading, a decline of 85% from the average daily volume of 705,060 shares. The stock had previously closed at $10.30.

Analysts Set New Price Targets

A number of research analysts recently commented on KDK shares. Citigroup initiated coverage on Kodiak AI in a research note on Monday, October 20th. They set a “buy” rating and a $13.50 price objective for the company. TD Cowen started coverage on shares of Kodiak AI in a report on Monday, November 10th. They set a “buy” rating and a $14.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a report on Monday, December 22nd. Zacks Research upgraded shares of Kodiak AI to a “hold” rating in a research report on Tuesday, October 21st. Finally, Northland Securities set a $17.00 target price on shares of Kodiak AI in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Kodiak AI Stock Performance

The stock has a fifty day moving average price of $7.82. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -30.21 and a beta of -0.03.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.49) EPS 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 the consensus estimate of $0.50 million.

Hedge Funds Weigh In On Kodiak AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KDK. Meteora Capital LLC bought a new stake in shares of Kodiak AI in the 3rd quarter worth $3,924,000. AQR Arbitrage LLC acquired a new position in Kodiak AI during the third quarter worth about $4,802,000. Rokos Capital Management US LP bought a new stake in Kodiak AI in the third quarter worth about $14,185,000. UBS Group AG acquired a new stake in Kodiak AI in the 3rd quarter valued at about $1,059,000. Finally, Barclays PLC acquired a new position in shares of Kodiak AI in the 3rd quarter worth approximately $830,000. 72.95% of the stock is owned by institutional investors.

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.