Kodiak AI (NASDAQ:KDK) Shares Up 3.6% - Still a Buy?

Key Points

• Shares rose 3.6% to about $3.87 in mid-day trading, although volume was 70% below the average session level.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $10.89 price target, despite some sell and strong-sell downgrades.
• Recent earnings were weak: Kodiak AI reported a $0.50 per-share loss, missing the $0.17 loss estimate, on $3.5 million in revenue. Institutional investors own nearly 73% of the stock.

Kodiak AI, Inc. (NASDAQ:KDK - Get Free Report)'s stock price shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $3.92 and last traded at $3.8740. 257,366 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 867,522 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KDK shares. Citigroup reaffirmed a "buy" rating on shares of Kodiak AI in a report on Wednesday, August 19th. Weiss Ratings downgraded Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Craig Hallum initiated coverage on Kodiak AI in a research report on Monday, June 15th. They set a "buy" rating and a $12.00 price target for the company. Morgan Stanley began coverage on Kodiak AI in a report on Friday. They issued an "equal weight" rating and a $9.00 price objective for the company. Finally, Wall Street Zen cut Kodiak AI from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.89.

Kodiak AI Trading Up 5.2%

The company has a market cap of $789.44 million, a PE ratio of -0.84 and a beta of 0.42. The stock has a 50 day moving average price of $4.17 and a 200 day moving average price of $6.34.

Kodiak AI (NASDAQ:KDK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share (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 analysts expect that Kodiak AI, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Trading of Kodiak AI

A number of institutional investors have recently made changes to their positions in KDK. Alyeska Investment Group L.P. purchased a new position in shares of Kodiak AI during the 2nd quarter worth $19,538,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Kodiak AI by 112.5% in 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. Amova Asset Management Americas Inc. lifted its position in Kodiak AI by 112.5% during the first 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. BlackRock Inc. purchased a new position in Kodiak AI during the second quarter valued at $9,073,000. Finally, UBS Group AG grew its holdings in Kodiak AI by 353.3% during the fourth quarter. UBS Group AG now owns 702,058 shares of the company's stock valued at $7,666,000 after purchasing an additional 547,192 shares during the period. Hedge funds and other institutional investors own 72.95% of the company's stock.

Kodiak AI Company Profile

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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