Kodiak AI (NASDAQ:KDK) Stock Price Down 8.7% – Should You Sell?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) traded down 8.7% during mid-day trading on Monday . The stock traded as low as $4.45 and last traded at $4.4350. Approximately 423,011 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 813,392 shares. The stock had previously closed at $4.86.

Analyst Ratings Changes

A number of analysts recently commented on KDK shares. Wall Street Zen lowered Kodiak AI from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Citigroup reduced their price objective on 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 started coverage on Kodiak AI in a research report on Monday, June 15th. They set a “buy” rating and a $12.00 target price for the company. Chardan Capital lowered their target price on 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, Weiss Ratings raised shares of Kodiak AI from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Kodiak AI Stock Down 2.8%

The firm has a 50 day moving average of $6.50 and a 200 day moving average of $7.99. The firm has a market cap of $832.84 million, a PE ratio of -4.98 and a beta of 0.40.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in Kodiak AI in the 3rd quarter worth about $36,000. Parkside Financial Bank & Trust purchased a new position in shares of Kodiak AI in the fourth quarter worth about $44,000. Farther Finance Advisors LLC bought a new stake in shares of Kodiak AI in the fourth quarter valued at approximately $78,000. Cannon Global Investment Management LLC purchased a new stake in shares of Kodiak AI during the 1st quarter valued at approximately $119,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Kodiak AI during the 1st quarter valued at $125,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.

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.