Kodiak AI (NASDAQ:KDK) Trading Up 8.3% – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) were up 8.3% during trading on Tuesday . The stock traded as high as $7.96 and last traded at $8.0160. Approximately 106,981 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 475,686 shares. The stock had previously closed at $7.40.

Analyst Ratings Changes

Several analysts have recently commented on KDK shares. TD Cowen lowered their price target on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak AI in a research note on Friday, March 27th. Finally, Chardan Capital reissued a “buy” rating and set a $22.00 price objective on shares of Kodiak AI in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.70.

Kodiak AI Stock Performance

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -13.53 and a beta of -0.01. The firm’s 50 day moving average is $8.16.

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

Hedge Funds Weigh In On Kodiak AI

A number of large investors have recently bought and sold shares of the stock. Connective Capital Management LLC purchased a new position in Kodiak AI during the fourth quarter worth approximately $435,000. XTX Topco Ltd purchased a new position in Kodiak AI during the fourth quarter worth approximately $188,000. Squarepoint Ops LLC purchased a new position in Kodiak AI during the fourth quarter worth approximately $282,000. Parkside Financial Bank & Trust purchased a new position in Kodiak AI during the fourth quarter worth approximately $44,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Kodiak AI during the fourth quarter worth approximately $6,831,000. Hedge funds and other institutional investors 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.