Kodiak AI (NASDAQ:KDK) Stock Price Down 5.5% – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) were down 5.5% during trading on Monday . The stock traded as low as $10.10 and last traded at $10.23. Approximately 168,482 shares were traded during trading, a decline of 41% from the average daily volume of 287,426 shares. The stock had previously closed at $10.83.

Analyst Ratings Changes

Several brokerages have recently weighed in on KDK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. Zacks Research raised Kodiak AI to a “hold” rating in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of Kodiak AI to a “strong sell” rating in a research report on Friday, November 28th. Northland Capmk upgraded shares of Kodiak AI to a “strong-buy” rating in a research note on Wednesday, October 29th. Finally, Northland Securities set a $17.00 target price on Kodiak AI in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kodiak AI has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Kodiak AI Price Performance

The stock’s 50-day moving average price is $8.10. The stock has a market cap of $1.87 billion, a PE ratio of -30.41 and a beta of -0.41.

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

Hedge Funds Weigh In On Kodiak AI

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of Kodiak AI in the 3rd quarter valued at about $36,000. Meteora Capital LLC bought a new position in Kodiak AI during the third quarter worth $3,924,000. AQR Arbitrage LLC acquired a new position in Kodiak AI in the third quarter valued at $4,802,000. Rokos Capital Management US LP bought a new stake in Kodiak AI during the third quarter valued at $14,185,000. Finally, UBS Group AG acquired a new stake in Kodiak AI during the 3rd quarter worth about $1,059,000. Institutional investors and hedge funds 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.