Kodiak AI (NASDAQ:KDK) Shares Down 9.2% – What’s Next?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) traded down 9.2% on Friday . The company traded as low as $6.91 and last traded at $6.8860. 231,844 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 481,749 shares. The stock had previously closed at $7.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on KDK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. TD Cowen decreased their price objective on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Chardan Capital reissued a “buy” rating and issued a $22.00 price objective on shares of Kodiak AI in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Kodiak AI to a “strong sell” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.70.

Kodiak AI Stock Down 10.4%

The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -10.30 and a beta of -0.34. The stock’s 50-day simple moving average is $8.68.

Kodiak AI (NASDAQ:KDK) last posted its quarterly 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 firm had revenue of $1.05 million during the quarter, compared to analyst estimates of $0.52 million.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KDK. Parkside Financial Bank & Trust purchased a new stake in shares of Kodiak AI in the 4th quarter worth approximately $44,000. JPMorgan Chase & Co. purchased a new position in Kodiak AI during the third quarter valued at approximately $36,000. Farther Finance Advisors LLC purchased a new position in Kodiak AI during the fourth quarter valued at approximately $78,000. Ieq Capital LLC bought a new position in Kodiak AI in the fourth quarter worth approximately $186,000. Finally, XTX Topco Ltd purchased a new stake in Kodiak AI during the fourth quarter worth $188,000. Hedge funds and other 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.