Kodiak AI (NASDAQ:KDK) Stock Rating Lowered by Zacks Research

Kodiak AI (NASDAQ:KDK) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities analysts have also recently weighed in on KDK. Morgan Stanley began coverage on Kodiak AI in a report on Friday, September 11th. They set an “equal weight” rating and a $9.00 price objective on the stock. Oppenheimer started coverage on Kodiak AI in a research note on Tuesday, August 25th. They set an “outperform” rating and a $9.00 target price for the company. Chardan Capital restated a “buy” rating and set a $12.00 target price on shares of Kodiak AI in a report on Wednesday, September 9th. Craig Hallum started coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Needham & Company LLC started coverage on shares of Kodiak AI in a report on Wednesday, September 9th. They issued a “buy” rating and a $8.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Kodiak AI presently has an average rating of “Moderate Buy” and an average target price of $10.89.

Kodiak AI Trading Down 5.5%

Shares of Kodiak AI stock opened at $3.60 on Tuesday. The company has a market capitalization of $722.23 million, a PE ratio of -0.76 and a beta of 0.42. Kodiak AI has a 12 month low of $3.48 and a 12 month high of $11.40. The stock’s fifty day simple moving average is $4.12 and its 200 day simple moving average is $6.28.

Kodiak AI (NASDAQ:KDK) last posted its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The business had revenue of $3.50 million during the quarter. Analysts predict that Kodiak AI will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KDK. Alyeska Investment Group L.P. acquired a new stake in Kodiak AI in the 2nd quarter valued at approximately $19,538,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Kodiak AI by 112.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after acquiring an additional 888,480 shares during the last quarter. Amova Asset Management Americas Inc. boosted its position in 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 worth $11,628,000 after acquiring an additional 888,480 shares during the last quarter. BlackRock Inc. bought a new position in shares of Kodiak AI during the 2nd quarter worth approximately $9,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Kodiak AI during the 2nd quarter worth approximately $1,276,000. 72.95% of the stock is currently owned by institutional investors.

About Kodiak AI

Kodiak AI, Inc (NASDAQ: KDK) develops autonomous vehicle technology for the trucking and logistics industries. The company’s platform is designed to enable self-driving commercial trucks, with an emphasis on improving freight transportation safety, efficiency and reliability.

Its products and services include autonomous-driving software, vehicle systems and supporting hardware designed for long-haul trucking applications. Kodiak’s technology is intended to help commercial fleets operate vehicles with reduced dependence on human drivers, while supporting remote supervision, fleet management and deployment across defined freight routes.

The company was founded in 2018 as Kodiak Robotics by Don Burnett and has focused primarily on autonomous trucking in the United States.