Kodiak AI (NASDAQ:KDK) Stock Price Down 6.1% – What’s Next?

Kodiak AI, Inc. (NASDAQ:KDK) shares fell 6.1% on Tuesday . The company traded as low as $5.57 and last traded at $5.57. 158,770 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 662,241 shares. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Kodiak AI to a “strong sell” rating in a research report on Friday. Chardan Capital reiterated a “buy” rating and set a $22.00 target price on shares of Kodiak AI in a report on Thursday, November 13th. TD Cowen started coverage on Kodiak AI in a report on Monday, November 10th. They issued a “buy” rating and a $14.00 price target 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 objective on the stock. Finally, Zacks Research raised Kodiak AI to a “hold” rating in a research note on Tuesday, October 21st. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Kodiak AI Price Performance

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -16.41 and a beta of -0.03. The company’s 50 day simple moving average is $7.72.

Kodiak AI (NASDAQ:KDK) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.33). The firm had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.50 million.

Institutional Inflows and Outflows

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

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.