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

Key Points

• Wall Street Zen downgraded Kodiak AI from “sell” to “strong sell,” although the broader analyst consensus remains “Moderate Buy” with a $12.50 target price.
• Kodiak AI shares opened at $3.94, near their 12-month low of $3.78, and are trading below both their 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.50 per share, substantially worse than the expected $0.17 loss, on revenue of $3.50 million; institutional investors own 72.95% of the stock.

Kodiak AI (NASDAQ:KDK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday.

KDK has been the subject of several other reports. Chardan Capital cut 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 report on Friday, May 8th. Citigroup reiterated a "buy" rating on shares of Kodiak AI in a research report on Wednesday. Craig Hallum assumed 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 report on Monday, May 11th. Finally, Weiss Ratings lowered Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Kodiak AI Trading Up 3.1%

Shares of KDK stock opened at $3.94 on Friday. Kodiak AI has a 12-month low of $3.78 and a 12-month high of $11.44. The stock has a market capitalization of $790.44 million, a P/E ratio of -0.84 and a beta of 0.45. The firm's 50 day moving average is $4.75 and its 200 day moving average is $6.91.

Kodiak AI (NASDAQ:KDK - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.33). The business had revenue of $3.50 million for the quarter. As a group, equities analysts predict that Kodiak AI will post -0.63 earnings per share for the current year.

Institutional Trading of Kodiak AI

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in shares of Kodiak AI during the 3rd quarter valued at about $36,000. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI in the fourth quarter worth about $44,000. Farther Finance Advisors LLC purchased a new stake in shares of Kodiak AI in the fourth quarter worth about $78,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Kodiak AI in the second quarter worth about $103,000. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of Kodiak AI in the first quarter worth about $119,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source