Kodiak AI (NASDAQ:KDK) Hits New 52-Week Low – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) hit a new 52-week low on Tuesday . The company traded as low as $4.42 and last traded at $4.66, with a volume of 1432439 shares. The stock had previously closed at $4.86.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings raised Kodiak AI from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Citigroup lowered their price objective on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Craig Hallum initiated coverage on shares of Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 target price on the stock. Chardan Capital cut 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, Northland Securities set a $11.00 target price on shares of Kodiak AI in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Kodiak AI Price Performance

The firm has a fifty day simple moving average of $6.41 and a 200-day simple moving average of $7.95. The firm has a market cap of $814.46 million, a P/E ratio of -4.87 and a beta of 0.40.

Institutional Trading of Kodiak AI

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new position in Kodiak AI during the fourth quarter worth $44,000. JPMorgan Chase & Co. acquired a new position in shares of Kodiak AI during the third quarter valued at about $36,000. Farther Finance Advisors LLC bought a new stake in shares of Kodiak AI during the fourth quarter worth about $78,000. Bank of New York Mellon Corp increased its position in shares of Kodiak AI by 143.5% during the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock worth $179,000 after acquiring an additional 15,190 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of Kodiak AI in the 4th quarter worth about $186,000. Institutional investors and hedge funds 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.