Kodiak AI (NASDAQ:KDK) Stock Rating Upgraded by Zacks Research

Kodiak AI (NASDAQ:KDK) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

KDK has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak AI in a research report on Thursday. Chardan Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Kodiak AI in a research report on Friday, September 25th. Citigroup reiterated a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Morgan Stanley began coverage on Kodiak AI in a research note on Friday, September 11th. They set an “equal weight” rating and a $9.00 price target on the stock. Finally, Oppenheimer began coverage on Kodiak AI in a research report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kodiak AI currently has a consensus rating of “Moderate Buy” and an average target price of $10.89.

Kodiak AI Trading Up 1.9%

KDK stock opened at $1.59 on Wednesday. Kodiak AI has a 12 month low of $1.51 and a 12 month high of $11.35. The company has a 50-day moving average price of $3.21 and a 200 day moving average price of $5.39. The stock has a market cap of $318.99 million, a PE ratio of -0.34 and a beta of 0.60.

Kodiak AI (NASDAQ:KDK) last released its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The business had revenue of $3.50 million during the quarter. Sell-side analysts forecast that Kodiak AI will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Kodiak AI

Several hedge funds and other institutional investors have recently made changes to their positions in KDK. Alyeska Investment Group L.P. purchased a new position in Kodiak AI during the second quarter worth approximately $19,538,000. BlackRock Inc. acquired a new position in shares of Kodiak AI in the 2nd quarter valued at $9,073,000. Amova Asset Management Americas Inc. lifted its position in Kodiak AI by 112.5% in 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 holdings 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 worth $11,645,000 after acquiring an additional 888,480 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Kodiak AI during the second quarter worth $1,276,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Kodiak AI

Kodiak AI, Inc develops autonomous vehicle technology designed primarily for the trucking and logistics industries. Its platform is intended to enable autonomous operation of heavy-duty commercial vehicles, with an emphasis on improving transportation safety, efficiency and reliability.

The company’s technology includes the Kodiak Driver, an autonomous driving system that combines sensors, onboard computing and artificial-intelligence software to perceive road conditions, plan routes and control vehicles.