Kodiak AI (NASDAQ:KDK) Hits New 12-Month Low – Here’s What Happened

Kodiak AI, Inc. (NASDAQ:KDK) shares reached a new 52-week low on Tuesday . The stock traded as low as $3.65 and last traded at $3.6240, with a volume of 101781 shares traded. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

A number of analysts recently commented on KDK shares. Chardan Capital dropped their price target on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Northland Securities set a $11.00 target price on shares of Kodiak AI in a report on Monday, May 11th. Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Craig Hallum started coverage on Kodiak AI in a report on Monday, June 15th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings cut Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given 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 $12.00.

Kodiak AI Stock Performance

The business’s 50-day moving average price is $4.41 and its 200 day moving average price is $6.61. The stock has a market capitalization of $716.21 million, a PE ratio of -0.76 and a beta of 0.42.

Kodiak AI (NASDAQ:KDK) last issued 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 company had revenue of $3.50 million during the quarter. As a group, equities research analysts predict that Kodiak AI, Inc. will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KDK. HighTower Advisors LLC purchased a new stake in Kodiak AI in the second quarter valued at approximately $121,000. Alyeska Investment Group L.P. purchased a new position in Kodiak AI in the 2nd quarter worth approximately $19,538,000. Hsbc Holdings PLC bought a new position in shares of Kodiak AI in the 2nd quarter worth $248,000. Bank of America Corp DE purchased a new stake in shares of Kodiak AI during the 2nd quarter valued at $586,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Kodiak AI during the 2nd quarter valued at $103,000. 72.95% of the stock is currently owned by 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.