Kodiak AI (NASDAQ:KDK) Trading Down 7.9% – What’s Next?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) traded down 7.9% during mid-day trading on Wednesday . The company traded as low as $9.13 and last traded at $9.19. 371,111 shares were traded during trading, a decline of 44% from the average session volume of 659,582 shares. The stock had previously closed at $9.98.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KDK shares. TD Cowen started coverage on Kodiak AI in a report on Monday, November 10th. They set a “buy” rating and a $14.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Kodiak AI in a research report on Monday, October 20th. They set an “overweight” rating and a $13.00 target price for the company. Zacks Research upgraded Kodiak AI to a “hold” rating in a report on Tuesday, October 21st. Citigroup initiated coverage on Kodiak AI in a report on Monday, October 20th. They set a “buy” rating and a $13.50 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kodiak AI currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

Kodiak AI Price Performance

The stock has a fifty day simple moving average of $8.43. The stock has a market cap of $1.67 billion, a P/E ratio of -27.09 and a beta of -0.41.

Kodiak AI (NASDAQ:KDK) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $0.50 million.

Hedge Funds Weigh In On Kodiak AI

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in Kodiak AI during the 3rd quarter worth approximately $36,000. Curated Wealth Partners LLC acquired a new position in Kodiak AI in the 4th quarter worth $649,000. Barclays PLC acquired a new stake in shares of Kodiak AI in the 3rd quarter valued at about $830,000. UBS Group AG acquired a new stake in shares of Kodiak AI in the 3rd quarter valued at about $1,059,000. Finally, Meteora Capital LLC acquired a new position in shares of Kodiak AI during the third quarter worth about $3,924,000. Institutional investors own 72.95% of the company’s stock.

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.