Kodiak AI (NASDAQ:KDK) Sets New 52-Week Low – What’s Next?

Shares of Kodiak AI, Inc. (NASDAQ:KDK) reached a new 52-week low during trading on Friday . The stock traded as low as $4.12 and last traded at $4.1660, with a volume of 81784 shares changing hands. The stock had previously closed at $4.27.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KDK shares. Northland Securities set a $11.00 price objective on Kodiak AI in a research report on Monday, May 11th. Weiss Ratings lowered Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Craig Hallum started coverage on Kodiak AI in a report on Monday, June 15th. They set a “buy” rating and a $12.00 price target for the company. Chardan Capital cut their price objective on Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Citigroup reduced their price objective on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.50.

Kodiak AI Stock Performance

The stock has a market cap of $771.80 million, a PE ratio of -4.60 and a beta of 0.40. The stock’s 50-day moving average is $5.98 and its two-hundred day moving average is $7.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KDK. Parkside Financial Bank & Trust acquired a new stake in shares of Kodiak AI in the fourth quarter valued at $44,000. JPMorgan Chase & Co. acquired a new position in Kodiak AI during the 3rd quarter worth about $36,000. Farther Finance Advisors LLC acquired a new position in Kodiak AI during the 4th quarter worth about $78,000. Bank of New York Mellon Corp boosted its holdings in Kodiak AI by 143.5% during the 1st quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company’s stock valued at $179,000 after acquiring an additional 15,190 shares during the period. Finally, Ieq Capital LLC purchased a new position in Kodiak AI during the 4th quarter valued at about $186,000. 72.95% of the stock is currently 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.