Kodiak AI (NASDAQ:KDK) Stock Sees Heavy Put Option Buying

Kodiak AI, Inc. (NASDAQ:KDK) was the recipient of some unusual options trading on Tuesday. Traders acquired 5,028 put options on the company. This represents an increase of 307% compared to the average daily volume of 1,235 put options.

Kodiak AI Stock Up 0.3%

Shares of NASDAQ KDK traded up $0.00 during midday trading on Tuesday, hitting $1.20. 2,495,425 shares of the company’s stock were exchanged, compared to its average volume of 1,547,948. The firm has a market capitalization of $241.54 million, a PE ratio of -0.26 and a beta of 0.60. Kodiak AI has a 12 month low of $1.13 and a 12 month high of $11.35. The company’s 50 day moving average price is $3.08 and its 200 day moving average price is $5.32.

Kodiak AI (NASDAQ:KDK) last posted its quarterly 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 company had revenue of $3.50 million during the quarter. On average, equities research analysts anticipate that Kodiak AI will post -0.93 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

Institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new stake in shares of Kodiak AI during the 2nd quarter worth about $19,538,000. BlackRock Inc. bought a new position in Kodiak AI in the 2nd quarter valued at about $9,073,000. Amova Asset Management Americas Inc. raised its holdings in 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 acquiring an additional 888,480 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in 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 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 stake 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC began coverage on Kodiak AI in a research note on Wednesday, September 9th. They set a “buy” rating and a $8.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kodiak AI in a research report on Monday, September 28th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Kodiak AI in a research report on Friday, September 25th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.62.

Kodiak AI Company Profile

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.