Kodiak AI (NASDAQ:KDK) Stock Price Up 3.6% – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) rose 3.6% during trading on Tuesday . The stock traded as high as $3.92 and last traded at $3.8740. 257,366 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 867,522 shares. The stock had previously closed at $3.74.

Wall Street Analyst Weigh In

Several research firms have issued reports on KDK. Weiss Ratings cut shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Needham & Company LLC began coverage on Kodiak AI in a report on Wednesday, September 9th. They issued a “buy” rating and a $8.00 price target for the company. Morgan Stanley started coverage on Kodiak AI in a research note on Friday, September 11th. They issued an “equal weight” rating and a $9.00 price objective on the stock. Finally, Citigroup reissued a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak AI presently has an average rating of “Moderate Buy” and a consensus target price of $10.89.

Kodiak AI Stock Performance

The firm has a market cap of $722.23 million, a P/E ratio of -0.76 and a beta of 0.42. The firm’s fifty day moving average price is $4.12 and its 200 day moving average price is $6.28.

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

Institutional Trading of Kodiak AI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new position in Kodiak AI in the second quarter valued at about $19,538,000. BlackRock Inc. bought a new position in Kodiak AI in the second quarter worth about $9,073,000. Amova Asset Management Americas Inc. lifted its position in shares of Kodiak AI by 112.5% during 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 buying an additional 888,480 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Kodiak AI by 112.5% during 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 buying an additional 888,480 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Kodiak AI in the 2nd quarter valued at about $1,276,000. Institutional investors own 72.95% of the company’s stock.

About Kodiak AI

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.