Kodiak AI (NASDAQ:KDK) Trading Up 5% – Here’s What Happened

Kodiak AI, Inc. (NASDAQ:KDK) shares traded up 5% during mid-day trading on Monday . The stock traded as high as $8.75 and last traded at $8.69. 452,794 shares were traded during mid-day trading, a decline of 33% from the average session volume of 673,501 shares. The stock had previously closed at $8.28.

Wall Street Analysts Forecast Growth

KDK has been the subject of several recent research reports. Wall Street Zen lowered shares of Kodiak AI to a “strong sell” rating in a research note on Friday, November 28th. Northland Securities set a $17.00 price objective on Kodiak AI in a research report on Thursday, October 30th. TD Cowen initiated coverage on Kodiak AI in a report on Monday, November 10th. They issued a “buy” rating and a $14.00 target price 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 price objective on the stock. Finally, Chardan Capital reiterated a “buy” rating and issued a $22.00 target price on shares of Kodiak AI in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.90.

Kodiak AI Stock Performance

The firm has a 50 day simple moving average of $7.59. The firm has a market cap of $1.55 billion, a P/E ratio of -25.21 and a beta of -0.04.

Kodiak AI (NASDAQ:KDK) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.33). The firm had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.50 million.

Institutional Trading of Kodiak AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rokos Capital Management US LP bought a new stake in shares of Kodiak AI in the third quarter valued at approximately $14,185,000. ARK Investment Management LLC acquired a new position in Kodiak AI during the 3rd quarter valued at $6,290,000. AQR Arbitrage LLC bought a new stake in Kodiak AI in the 3rd quarter valued at $4,802,000. Amova Asset Management Americas Inc. bought a new stake in Kodiak AI in the 3rd quarter valued at $4,228,000. Finally, Meteora Capital LLC acquired a new stake in Kodiak AI in the 3rd quarter worth $3,924,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

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.