Kodiak AI (NASDAQ:KDK) Sets New 12-Month Low - Here's Why

Key Points

• Kodiak AI shares fell 7.2% to an intraday 52-week low of $2.93, well below their 50-day and 200-day moving averages of $3.98 and $6.10.
• The company’s latest quarterly results disappointed, with a loss of $0.50 per share versus the expected $0.17 loss, alongside $3.50 million in revenue. Analysts expect a full-year loss of $0.92 per share.
• Despite several recent downgrades, the stock has a consensus “Moderate Buy” rating and an average target price of $10.89, while institutional investors own 72.95% of the shares.

Kodiak AI, Inc. (NASDAQ:KDK - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.93 and last traded at $2.97, with a volume of 1976042 shares traded. The stock had previously closed at $3.20.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Oppenheimer initiated coverage on Kodiak AI in a research report on Tuesday, August 25th. They issued an "outperform" rating and a $9.00 target price on the stock. Morgan Stanley assumed coverage on Kodiak AI in a research note on Friday, September 11th. They issued an "equal weight" rating and a $9.00 price target for the company. Wall Street Zen downgraded Kodiak AI from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. Zacks Research lowered Kodiak AI from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 15th. Finally, Weiss Ratings cut Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.89.

Kodiak AI Trading Down 7.2%

The stock's 50-day simple moving average is $3.98 and its 200-day simple moving average is $6.10. The stock has a market cap of $595.84 million, a price-to-earnings ratio of -0.63 and a beta of 0.42.

Kodiak AI (NASDAQ:KDK - Get Free Report) last released its quarterly 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 firm had revenue of $3.50 million for the quarter. On average, equities research analysts forecast that Kodiak AI, Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Kodiak AI by 143.5% during the first quarter. Bank of New York Mellon Corp now owns 25,779 shares of the company's stock worth $179,000 after buying an additional 15,190 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Kodiak AI in the 1st quarter valued at approximately $119,000. The Manufacturers Life Insurance Company bought a new stake in shares of Kodiak AI during the 1st quarter worth approximately $125,000. Royal Bank of Canada boosted its position in shares of Kodiak AI by 502.2% during the 1st quarter. Royal Bank of Canada now owns 24,689 shares of the company's stock worth $171,000 after acquiring an additional 20,589 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Kodiak AI during the 2nd quarter worth approximately $121,000. Institutional investors own 72.95% of the company's stock.

About Kodiak AI

Kodiak AI, Inc NASDAQ: KDK develops autonomous vehicle technology for the trucking and logistics industries. The company's platform is designed to enable self-driving commercial trucks, with an emphasis on improving freight transportation safety, efficiency and reliability.

Its products and services include autonomous-driving software, vehicle systems and supporting hardware designed for long-haul trucking applications. Kodiak's technology is intended to help commercial fleets operate vehicles with reduced dependence on human drivers, while supporting remote supervision, fleet management and deployment across defined freight routes.

The company was founded in 2018 as Kodiak Robotics by Don Burnett and has focused primarily on autonomous trucking in the United States.

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