Kodiak AI (NASDAQ:KDK) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kodiak AI from “sell” to “hold”, while the broader analyst community currently rates the stock a Moderate Buy with a consensus price target of $12.50.
• Several other firms have recently weighed in, including Craig Hallum and Chardan Capital maintaining buy ratings, while Citigroup and Northland Securities set price targets near the low teens.
• Kodiak AI’s shares were trading around $4.28, near the 52-week low of $4.12, and the company remains a blank check SPAC that has not yet selected a business combination target.

Kodiak AI (NASDAQ:KDK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the stock. Craig Hallum initiated coverage on shares of Kodiak AI in a research note on Monday, June 15th. They set a "buy" rating and a $12.00 price target on the stock. Northland Securities set a $11.00 price objective on shares of Kodiak AI in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Kodiak AI from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. Chardan Capital lowered their target price on shares of Kodiak AI from $22.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Citigroup cut their price target on Kodiak AI from $13.50 to $11.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Kodiak AI Trading Up 0.2%

Kodiak AI stock opened at $4.28 on Friday. The stock has a market cap of $786.88 million, a PE ratio of -4.70 and a beta of 0.40. The stock has a 50-day moving average price of $6.26 and a 200 day moving average price of $7.88. Kodiak AI has a 52 week low of $4.12 and a 52 week high of $11.48.

Institutional Investors Weigh In On Kodiak AI

Institutional investors have recently added to or reduced their stakes in the company. Rokos Capital Management US LP acquired a new stake in Kodiak AI during the third quarter worth about $14,185,000. ARK Investment Management LLC lifted its stake in shares of Kodiak AI by 190.3% in the 4th quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company's stock valued at $29,150,000 after purchasing an additional 1,749,863 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kodiak AI by 725.0% in the 4th quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company's stock valued at $13,254,000 after purchasing an additional 1,066,128 shares in the last quarter. Amova Asset Management Americas Inc. lifted its stake in shares of Kodiak AI by 112.5% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company's stock valued at $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Kodiak AI by 112.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company's stock worth $11,645,000 after purchasing an additional 888,480 shares during the period. Hedge funds and other institutional investors own 72.95% of the company's stock.

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.

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