Kodiak AI (NASDAQ:KDK) Trading 8.3% Higher – Should You Buy?

Kodiak AI, Inc. (NASDAQ:KDK)’s stock price was up 8.3% on Thursday . The stock traded as high as $6.33 and last traded at $6.27. Approximately 482,670 shares changed hands during trading, a decline of 30% from the average daily volume of 687,716 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen dropped 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 note on Thursday, March 12th. Wall Street Zen upgraded shares of Kodiak AI from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Northland Securities set a $11.00 target price on shares of Kodiak AI in a report on Monday, May 11th. Chardan Capital dropped their target price on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup cut their price target on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kodiak AI has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Kodiak AI Price Performance

The stock has a market capitalization of $1.13 billion, a P/E ratio of -6.75 and a beta of 0.26. The business has a fifty day moving average price of $7.86 and a 200-day moving average price of $8.33.

Hedge Funds Weigh In On Kodiak AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rokos Capital Management US LP bought a new stake in shares of Kodiak AI in the third quarter worth approximately $14,185,000. ARK Investment Management LLC lifted its position in Kodiak AI by 190.3% during the fourth quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock valued at $29,150,000 after purchasing an additional 1,749,863 shares during the period. Geode Capital Management LLC lifted its position in Kodiak AI by 725.0% during the fourth quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company’s stock valued at $13,254,000 after purchasing an additional 1,066,128 shares during the period. Amova Asset Management Americas Inc. boosted its holdings in Kodiak AI by 112.5% in the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after purchasing an additional 888,480 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Kodiak AI by 112.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock worth $11,645,000 after purchasing an additional 888,480 shares during the last quarter. 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.