Kodiak AI (NASDAQ:KDK) Stock Price Up 5% – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) traded up 5% on Monday . The company traded as high as $8.75 and last traded at $8.69. 452,794 shares were traded during trading, a decline of 33% from the average session volume of 673,501 shares. The stock had previously closed at $8.28.

Wall Street Analyst Weigh In

KDK has been the subject of several recent research reports. Chardan Capital reaffirmed a “buy” rating and issued a $22.00 price target on shares of Kodiak AI in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak AI in a research report on Monday, December 8th. Citigroup began coverage on Kodiak AI in a research report on Monday, October 20th. They issued a “buy” rating and a $13.50 target price for the company. Northland Securities set a $17.00 price target on shares of Kodiak AI in a report on Thursday, October 30th. Finally, Cantor Fitzgerald began coverage on shares of Kodiak AI in a research note on Monday, October 20th. They issued an “overweight” rating and a $13.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kodiak AI presently has an average rating of “Moderate Buy” and an average price target of $15.90.

Kodiak AI Stock Up 3.5%

The stock has a market capitalization of $1.55 billion, a PE ratio of -25.21 and a beta of -0.04. The business has a 50 day moving average price of $7.59.

Kodiak AI (NASDAQ:KDK) last announced its earnings results on Wednesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.33). The firm had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.50 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in Kodiak AI in the 3rd quarter valued at about $36,000. Barclays PLC acquired a new position in shares of Kodiak AI during the third quarter worth approximately $830,000. UBS Group AG bought a new stake in shares of Kodiak AI during the third quarter valued at approximately $1,059,000. Meteora Capital LLC bought a new position in Kodiak AI in the 3rd quarter worth approximately $3,924,000. Finally, Amova Asset Management Americas Inc. acquired a new position in Kodiak AI during the 3rd quarter worth $4,228,000. Institutional investors and hedge funds 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.