Kodiak AI (NASDAQ:KDK) Shares Down 7.7% – Should You Sell?

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

Analyst Ratings Changes

Several equities research analysts have weighed in on KDK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak AI in a report on Monday, December 29th. Chardan Capital reissued a “buy” rating and issued a $22.00 price target on shares of Kodiak AI in a report on Wednesday, March 11th. Wall Street Zen cut shares of Kodiak AI to a “strong sell” rating in a research report on Friday, November 28th. Finally, TD Cowen dropped 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 research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Kodiak AI Price Performance

The stock has a market cap of $1.40 billion, a P/E ratio of -11.67 and a beta of -0.34. The firm’s fifty day moving average price is $8.92.

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

Hedge Funds Weigh In On Kodiak AI

Several hedge funds have recently made changes to their positions in KDK. Parkside Financial Bank & Trust acquired a new stake in shares of Kodiak AI in the fourth quarter valued at approximately $44,000. JPMorgan Chase & Co. acquired a new position in Kodiak AI during the third quarter worth $36,000. Farther Finance Advisors LLC acquired a new position in Kodiak AI during the fourth quarter worth $78,000. Ieq Capital LLC bought a new position in Kodiak AI in the fourth quarter valued at $186,000. Finally, XTX Topco Ltd bought a new position in Kodiak AI in the fourth quarter valued at $188,000. 72.95% of the stock is owned by institutional investors.

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.