Kodiak AI (NASDAQ:KDK) Sets New 52-Week Low – Here’s Why

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

Analysts Set New Price Targets

KDK has been the subject of several research analyst reports. Craig Hallum assumed coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 price objective for the company. Chardan Capital dropped their price objective on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Oppenheimer initiated coverage on shares of Kodiak AI in a research report on Tuesday, August 25th. They set an “outperform” rating and a $9.00 price objective on the stock. Citigroup restated a “buy” rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Finally, Weiss Ratings lowered Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Kodiak AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Kodiak AI Trading Down 4.6%

The firm has a market cap of $723.23 million, a P/E ratio of -0.77 and a beta of 0.45. The company’s 50-day moving average is $4.49 and its two-hundred day moving average is $6.68.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The business had revenue of $3.50 million during the quarter. Research analysts anticipate that Kodiak AI, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak AI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new position in Kodiak AI during the 4th quarter valued at $44,000. JPMorgan Chase & Co. purchased a new stake in shares of Kodiak AI in the third quarter valued at about $36,000. Farther Finance Advisors LLC purchased a new stake in shares of Kodiak AI in the fourth quarter valued at about $78,000. Ieq Capital LLC bought a new position in shares of Kodiak AI during the fourth quarter valued at about $186,000. Finally, XTX Topco Ltd purchased a new position in Kodiak AI during the fourth quarter worth about $188,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

About Kodiak AI

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.