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

Key Points

• Kodiak AI shares hit a new 52-week low, falling to $3.94 and last trading at $3.91, below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.50 per share, missing analyst expectations by $0.33, while revenue totaled $3.50 million.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $12.50 target price; institutional investors own nearly 73% of the stock.

Kodiak AI, Inc. (NASDAQ:KDK - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $3.94 and last traded at $3.91, with a volume of 117071 shares. The stock had previously closed at $4.01.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings lowered shares of Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, July 17th. Citigroup reissued a "buy" rating on shares of Kodiak AI in a research report on Wednesday. Wall Street Zen lowered shares of Kodiak AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Northland Securities set a $11.00 target price on shares of Kodiak AI in a report on Monday, May 11th. Finally, 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 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Kodiak AI presently has an average rating of "Moderate Buy" and a consensus target price of $12.50.

Kodiak AI Trading Down 2.3%

The firm has a market cap of $786.23 million, a price-to-earnings ratio of -0.83 and a beta of 0.45. The company's 50-day moving average is $4.88 and its 200-day moving average is $7.00.

Kodiak AI (NASDAQ:KDK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million for the quarter. Equities research analysts forecast that Kodiak AI, Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Kodiak AI

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in Kodiak AI during the third quarter worth $36,000. Parkside Financial Bank & Trust acquired a new position in shares of Kodiak AI during the fourth quarter valued at about $44,000. Farther Finance Advisors LLC acquired a new stake in shares of Kodiak AI in the 4th quarter worth about $78,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Kodiak AI in the 2nd quarter worth about $103,000. Finally, Cannon Global Investment Management LLC acquired a new position in Kodiak AI during the 1st quarter valued at about $119,000. 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. 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.

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