Kodiak AI (NASDAQ:KDK) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Kodiak AI from “Hold” to “Sell,” though broader analyst sentiment remains “Moderate Buy,” with an average price target of $12.50.
• Kodiak AI shares opened at $4.48, well below the consensus target and closer to their 52-week low of $3.97 than their high of $11.44.
• Institutional ownership stands at 72.95%, with BlackRock and Mitsubishi UFJ among investors recently establishing new positions; the company remains a blank-check firm that has not selected a merger target.

Kodiak AI (NASDAQ:KDK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

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

Kodiak AI Price Performance

NASDAQ KDK opened at $4.48 on Friday. Kodiak AI has a 1-year low of $3.97 and a 1-year high of $11.44. The business has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $7.28. The stock has a market capitalization of $823.65 million, a PE ratio of -0.95 and a beta of 0.45.

Institutional Investors Weigh In On Kodiak AI

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Kodiak AI in the 2nd quarter valued at approximately $9,073,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Kodiak AI during the 2nd quarter valued at approximately $1,276,000. Bank of New York Mellon Corp bought a new position in shares of Kodiak AI during the 2nd quarter valued at approximately $130,000. Royal Bank of Canada raised its holdings in Kodiak AI by 502.2% during the 1st quarter. Royal Bank of Canada now owns 24,689 shares of the company's stock valued at $171,000 after buying an additional 20,589 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Kodiak AI during the 1st quarter valued at $125,000. 72.95% of the stock is owned by institutional investors.

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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