Kodiak AI (NASDAQ:KDK) Shares Down 7.7% – What’s Next?

Kodiak AI, Inc. (NASDAQ:KDK)’s share price was down 7.7% on Thursday . The company traded as low as $7.66 and last traded at $7.6810. Approximately 309,812 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 478,869 shares. The stock had previously closed at $8.32.

Analyst Ratings Changes

Several research firms have issued reports on KDK. Chardan Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Kodiak AI in a report on Wednesday, March 11th. Wall Street Zen cut Kodiak AI to a “strong sell” rating in a research note on Friday, November 28th. TD Cowen dropped their target price on Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.70.

Kodiak AI Stock Performance

The stock has a fifty day simple moving average of $8.92. The firm has a market capitalization of $1.40 billion, a PE ratio of -11.67 and a beta of -0.34.

Kodiak AI (NASDAQ:KDK) last issued its earnings results on Tuesday, March 10th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $1.05 million for the quarter, compared to the consensus estimate of $0.52 million.

Institutional Investors Weigh In On Kodiak AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in Kodiak AI during the third quarter worth about $36,000. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI in the 4th quarter valued at about $44,000. Farther Finance Advisors LLC bought a new stake in shares of Kodiak AI in the 4th quarter valued at about $78,000. Ieq Capital LLC acquired a new stake in shares of Kodiak AI in the 4th quarter valued at approximately $186,000. Finally, XTX Topco Ltd bought a new position in Kodiak AI during the 4th quarter worth approximately $188,000. Institutional investors own 72.95% of the company’s stock.

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.