Kodiak AI (NASDAQ:KDK) Sets New 12-Month Low – What’s Next?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) hit a new 52-week low during trading on Friday . The company traded as low as $3.45 and last traded at $3.4850, with a volume of 885917 shares trading hands. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KDK. Oppenheimer assumed coverage on shares of Kodiak AI in a report on Tuesday, August 25th. They issued an “outperform” rating and a $9.00 price objective for the company. Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Chardan Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Kodiak AI in a report on Wednesday, September 9th. Morgan Stanley initiated coverage on Kodiak AI in a research report on Friday, September 11th. They set an “equal weight” rating and a $9.00 price objective for the company. Finally, Citigroup restated a “buy” rating on shares of Kodiak AI in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.89.

Kodiak AI Stock Performance

The stock has a market capitalization of $699.16 million, a price-to-earnings ratio of -0.74 and a beta of 0.42. The company has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $6.25.

Kodiak AI (NASDAQ:KDK) last announced 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 company had revenue of $3.50 million for the quarter. As a group, equities analysts predict that Kodiak AI, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Kodiak AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KDK. The Manufacturers Life Insurance Company bought a new stake in shares of Kodiak AI during the second quarter valued at approximately $103,000. Cannon Global Investment Management LLC purchased a new position in Kodiak AI during the first quarter worth about $119,000. HighTower Advisors LLC purchased a new position in shares of Kodiak AI in the 2nd quarter worth approximately $121,000. Bank of New York Mellon Corp bought a new position in Kodiak AI in the 2nd quarter valued at $130,000. Finally, Royal Bank of Canada grew its position in Kodiak AI by 502.2% during the first quarter. Royal Bank of Canada now owns 24,689 shares of the company’s stock valued at $171,000 after buying an additional 20,589 shares during the period. 72.95% of the stock is owned by institutional investors.

Kodiak AI Company Profile

Kodiak AI, Inc (NASDAQ: KDK) develops autonomous vehicle technology for the trucking and logistics industries. The company’s platform is designed to enable self-driving commercial trucks, with an emphasis on improving freight transportation safety, efficiency and reliability.

Its products and services include autonomous-driving software, vehicle systems and supporting hardware designed for long-haul trucking applications. Kodiak’s technology is intended to help commercial fleets operate vehicles with reduced dependence on human drivers, while supporting remote supervision, fleet management and deployment across defined freight routes.

The company was founded in 2018 as Kodiak Robotics by Don Burnett and has focused primarily on autonomous trucking in the United States.