Kodiak AI Target of Unusually High Options Trading (NASDAQ:KDK)

Kodiak AI, Inc. (NASDAQ:KDK) was the recipient of some unusual options trading activity on Monday. Investors acquired 9,853 call options on the company. This is an increase of approximately 100% compared to the typical daily volume of 4,923 call options.

Analyst Ratings Changes

KDK has been the subject of a number of research reports. Northland Capmk raised shares of Kodiak AI to a “strong-buy” rating in a research note on Wednesday, October 29th. Chardan Capital reiterated a “buy” rating and set a $22.00 target price on shares of Kodiak AI in a report on Thursday, November 13th. Wall Street Zen lowered Kodiak AI to a “strong sell” rating in a research report on Friday, November 28th. Zacks Research upgraded Kodiak AI to a “hold” rating in a research report on Tuesday, October 21st. Finally, Northland Securities set a $17.00 price target on Kodiak AI in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kodiak AI currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Kodiak AI Stock Up 5.4%

KDK stock opened at $10.88 on Tuesday. The firm’s 50 day simple moving average is $7.66. Kodiak AI has a 52-week low of $5.43 and a 52-week high of $11.62. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -32.00 and a beta of -0.03.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.33). The company had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.50 million.

Hedge Funds Weigh In On Kodiak AI

Institutional investors and hedge funds have recently modified their holdings of the stock. Rokos Capital Management US LP purchased a new position in shares of Kodiak AI in the 3rd quarter worth about $14,185,000. ARK Investment Management LLC bought a new stake in Kodiak AI during the 3rd quarter valued at about $6,290,000. AQR Arbitrage LLC purchased a new position in Kodiak AI in the third quarter worth about $4,802,000. Amova Asset Management Americas Inc. bought a new position in shares of Kodiak AI in the third quarter worth approximately $4,228,000. Finally, Meteora Capital LLC bought a new position in shares of Kodiak AI in the third quarter worth approximately $3,924,000. 72.95% of the stock is currently owned by institutional investors.

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.