Kodiak AI (NASDAQ:KDK) Hits New 1-Year Low – Here’s Why

Kodiak AI, Inc. (NASDAQ:KDK) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.00 and last traded at $5.0550, with a volume of 239024 shares trading hands. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

KDK has been the subject of a number of research analyst reports. Citigroup dropped their price target on Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. TD Cowen reduced their price objective on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Northland Securities set a $11.00 price objective on shares of Kodiak AI in a report on Monday, May 11th. Chardan Capital dropped their target price on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Craig Hallum initiated coverage on shares of Kodiak AI in a research report on Monday, June 15th. They issued a “buy” rating and a $12.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Kodiak AI Trading Up 0.1%

The stock has a market cap of $933.04 million, a PE ratio of -5.58 and a beta of 0.40. The business has a fifty day simple moving average of $6.85 and a two-hundred day simple moving average of $8.18.

Institutional Investors Weigh In On Kodiak AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rokos Capital Management US LP bought a new position in Kodiak AI in the third quarter worth $14,185,000. ARK Investment Management LLC lifted its position in Kodiak AI by 190.3% during the fourth quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock valued at $29,150,000 after buying an additional 1,749,863 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kodiak AI by 725.0% during the 4th quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company’s stock valued at $13,254,000 after buying an additional 1,066,128 shares in the last quarter. Amova Asset Management Americas Inc. boosted its holdings in shares of Kodiak AI by 112.5% during the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock valued at $11,628,000 after buying an additional 888,480 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Kodiak AI by 112.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after buying an additional 888,480 shares during the period. 72.95% of the stock is owned by hedge funds and other 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.