Kodiak AI (NASDAQ:KDK) Shares Down 9.2% – Time to Sell?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) were down 9.2% during trading on Friday . The stock traded as low as $6.91 and last traded at $6.8860. Approximately 231,844 shares changed hands during trading, a decline of 52% from the average daily volume of 481,749 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak AI in a report on Monday, December 29th. Chardan Capital reaffirmed a “buy” rating and issued a $22.00 price target on shares of Kodiak AI in a report on Wednesday. Wall Street Zen lowered Kodiak AI to a “strong sell” rating in a research report on Friday, November 28th. Finally, TD Cowen reduced their price objective on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.70.

Kodiak AI Price Performance

The stock has a 50 day simple moving average of $8.68. The stock has a market capitalization of $1.24 billion, a P/E ratio of -10.30 and a beta of -0.34.

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

Institutional Trading of Kodiak AI

Several institutional investors have recently added to or reduced their stakes in the company. Connective Capital Management LLC purchased a new position in shares of Kodiak AI during the fourth quarter valued at approximately $435,000. XTX Topco Ltd purchased a new stake in shares of Kodiak AI in the fourth quarter worth approximately $188,000. Squarepoint Ops LLC bought a new stake in shares of Kodiak AI during the 4th quarter worth approximately $282,000. Parkside Financial Bank & Trust purchased a new position in Kodiak AI during the 4th quarter valued at $44,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Kodiak AI in the 4th quarter valued at $6,831,000. Institutional investors own 72.95% of the company’s stock.

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.