Kodiak AI (NASDAQ:KDK) Sets New 1-Year Low – Time to Sell?

Kodiak AI, Inc. (NASDAQ:KDK)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.94 and last traded at $3.91, with a volume of 117071 shares traded. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

KDK has been the topic of a number of research reports. Weiss Ratings lowered shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Craig Hallum assumed coverage on Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 price objective on the stock. Chardan Capital reduced their target price on Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen cut Kodiak AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Citigroup restated a “buy” rating on shares of Kodiak AI in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Kodiak AI Trading Down 2.1%

The company has a market cap of $766.37 million, a PE ratio of -0.81 and a beta of 0.45. The firm has a 50 day moving average of $4.79 and a two-hundred day moving average of $6.93.

Kodiak AI (NASDAQ:KDK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The business had revenue of $3.50 million during the quarter. On average, research analysts forecast that Kodiak AI, Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kodiak AI by 112.5% in the first 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 last quarter. Amova Asset Management Americas Inc. lifted its stake in shares of Kodiak AI by 112.5% in the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after buying an additional 888,480 shares in the last quarter. UBS Group AG grew its holdings in shares of Kodiak AI by 353.3% during the fourth quarter. UBS Group AG now owns 702,058 shares of the company’s stock valued at $7,666,000 after buying an additional 547,192 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Kodiak AI during the fourth quarter valued at approximately $2,665,000. Finally, Bank of New York Mellon Corp increased its position in shares of Kodiak AI by 143.5% during the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock valued at $179,000 after acquiring an additional 15,190 shares in the last quarter. 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.