Kodiak AI (NASDAQ:KDK) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Kodiak AI (NASDAQ:KDK) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks reports.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC started coverage on Kodiak AI in a research note on Wednesday, September 9th. They issued a “buy” rating and a $8.00 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Kodiak AI in a research note on Wednesday, September 9th. Weiss Ratings cut shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. Finally, Craig Hallum started coverage on shares of Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.89.

Kodiak AI Stock Down 5.5%

Shares of KDK stock opened at $3.60 on Tuesday. The firm has a 50 day moving average of $4.12 and a two-hundred day moving average of $6.28. The stock has a market capitalization of $722.23 million, a PE ratio of -0.76 and a beta of 0.42. Kodiak AI has a 52 week low of $3.48 and a 52 week high of $11.40.

Kodiak AI (NASDAQ:KDK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The firm had revenue of $3.50 million during the quarter. Analysts expect that Kodiak AI will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new position in Kodiak AI in the second quarter valued at $19,538,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Kodiak AI by 112.5% in the 1st 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 during the period. Amova Asset Management Americas Inc. boosted its position in shares of Kodiak AI by 112.5% in the 1st 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 during the period. BlackRock Inc. purchased a new position in Kodiak AI during the 2nd quarter worth approximately $9,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Kodiak AI during the second quarter worth approximately $1,276,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.

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.