Kodiak AI (NASDAQ:KDK) Trading 3.2% Higher – Here’s What Happened

Shares of Kodiak AI, Inc. (NASDAQ:KDK) traded up 3.2% during trading on Monday . The stock traded as high as $10.67 and last traded at $10.63. 105,041 shares were traded during trading, a decline of 85% from the average session volume of 705,060 shares. The stock had previously closed at $10.30.

Analysts Set New Price Targets

Several research firms have issued reports on KDK. Cantor Fitzgerald initiated coverage on shares of Kodiak AI in a research report on Monday, October 20th. They issued an “overweight” rating and a $13.00 price target on the stock. Citigroup started coverage on Kodiak AI in a report on Monday, October 20th. They set a “buy” rating and a $13.50 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $22.00 price target on shares of Kodiak AI in a research report on Thursday, November 13th. TD Cowen began coverage on Kodiak AI in a report on Monday, November 10th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Kodiak AI Stock Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of -30.21 and a beta of -0.03. The stock’s 50 day moving average price is $7.82.

Kodiak AI (NASDAQ:KDK) last posted its quarterly 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 company had revenue of $0.77 million for the quarter, compared to analyst estimates of $0.50 million.

Institutional Trading of Kodiak AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Amova Asset Management Americas Inc. acquired a new position in Kodiak AI in the 3rd quarter worth about $4,228,000. ARK Investment Management LLC acquired a new position in Kodiak AI in the third quarter worth approximately $6,290,000. Meteora Capital LLC acquired a new position in Kodiak AI in the third quarter worth approximately $3,924,000. AQR Arbitrage LLC bought a new position in Kodiak AI during the third quarter valued at approximately $4,802,000. Finally, Rokos Capital Management US LP acquired a new stake in Kodiak AI in the third quarter valued at approximately $14,185,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak AI Company Profile

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.