Kodiak AI (NASDAQ:KDK) Downgraded to Strong Sell Rating by Zacks Research

Kodiak AI (NASDAQ:KDK) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued reports about the company. Craig Hallum began coverage on Kodiak AI in a research report on Monday, June 15th. They issued a “buy” rating and a $12.00 price target for the company. Chardan Capital restated a “buy” rating and issued a $12.00 target price on shares of Kodiak AI in a research note on Wednesday, September 9th. Needham & Company LLC began coverage on Kodiak AI in a report on Wednesday, September 9th. They set a “buy” rating and a $8.00 target price for the company. Oppenheimer assumed coverage on Kodiak AI in a research report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Kodiak AI in a research report on Friday, September 11th. They issued an “equal weight” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kodiak AI has a consensus rating of “Moderate Buy” and an average target price of $10.89.

Kodiak AI Trading Down 5.5%

Shares of KDK stock opened at $3.60 on Tuesday. The firm’s 50 day moving average is $4.12 and its 200 day moving average is $6.28. The stock has a market capitalization of $722.23 million, a P/E ratio of -0.76 and a beta of 0.42. Kodiak AI has a 12 month low of $3.48 and a 12 month high of $11.40.

Kodiak AI (NASDAQ:KDK) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The company had revenue of $3.50 million for the quarter. On average, equities analysts predict that Kodiak AI will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KDK. Alyeska Investment Group L.P. purchased a new stake in shares of Kodiak AI in the 2nd quarter valued at about $19,538,000. BlackRock Inc. bought a new position in shares of Kodiak AI in the second quarter worth approximately $9,073,000. Amova Asset Management Americas Inc. raised its stake 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 valued at $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake 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 valued at $11,645,000 after purchasing an additional 888,480 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Kodiak AI during the second quarter valued at approximately $1,276,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak AI Company Profile

Kodiak AI, Inc (NASDAQ: KDK) develops autonomous vehicle technology for the trucking and logistics industries. The company’s platform is designed to enable self-driving commercial trucks, with an emphasis on improving freight transportation safety, efficiency and reliability.

Its products and services include autonomous-driving software, vehicle systems and supporting hardware designed for long-haul trucking applications. Kodiak’s technology is intended to help commercial fleets operate vehicles with reduced dependence on human drivers, while supporting remote supervision, fleet management and deployment across defined freight routes.

The company was founded in 2018 as Kodiak Robotics by Don Burnett and has focused primarily on autonomous trucking in the United States.