Kodiak AI (NASDAQ:KDK) Sees Unusually-High Trading Volume – Time to Buy?

Kodiak AI, Inc. (NASDAQ:KDK) saw an uptick in trading volume on Friday . 1,339,414 shares changed hands during trading, an increase of 161% from the previous session’s volume of 512,966 shares.The stock last traded at $10.16 and had previously closed at $10.09.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Chardan Capital reissued a “buy” rating and issued a $22.00 price objective on shares of Kodiak AI in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a report on Friday, March 27th. Finally, TD Cowen dropped their price target on Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.70.

Kodiak AI Price Performance

The stock has a 50-day simple moving average of $8.19. The company has a market cap of $1.89 billion, a P/E ratio of -15.73 and a beta of -0.01.

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

Institutional Trading of Kodiak AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rokos Capital Management US LP bought a new stake in Kodiak AI in the third quarter worth about $14,185,000. ARK Investment Management LLC grew its stake in shares of 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 buying an additional 1,749,863 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kodiak AI by 725.0% in the fourth quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company’s stock worth $13,254,000 after buying an additional 1,066,128 shares during the period. AQR Arbitrage LLC purchased a new stake in shares of Kodiak AI in the third quarter worth approximately $4,802,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Kodiak AI during the 4th quarter worth approximately $6,831,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

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.