Kodiak AI (NASDAQ:KDK) Hits New 1-Year Low – Here’s Why

Kodiak AI, Inc. (NASDAQ:KDK)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $5.00 and last traded at $5.0550, with a volume of 239024 shares traded. The stock had previously closed at $5.07.

Analyst Upgrades and Downgrades

KDK has been the subject of several recent research reports. Craig Hallum assumed coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 price target for 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. TD Cowen decreased their price objective on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Wall Street Zen lowered Kodiak AI from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Chardan Capital dropped their target price on Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 8th. One equities 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Kodiak AI Trading Up 0.1%

The company has a market capitalization of $933.04 million, a P/E ratio of -5.58 and a beta of 0.40. The stock’s fifty day moving average is $6.85 and its 200 day moving average is $8.18.

Hedge Funds Weigh In On Kodiak AI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI in the fourth quarter worth about $44,000. JPMorgan Chase & Co. bought a new position in Kodiak AI during the 3rd quarter valued at approximately $36,000. Farther Finance Advisors LLC bought a new position in Kodiak AI during the 4th quarter valued at approximately $78,000. Ieq Capital LLC purchased a new stake in Kodiak AI in the 4th quarter worth approximately $186,000. Finally, XTX Topco Ltd purchased a new stake in Kodiak AI in the 4th quarter worth approximately $188,000. 72.95% of the stock is owned by institutional investors.

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.