Kodiak AI (NASDAQ:KDK) Shares Gap Down After Earnings Miss

Kodiak AI, Inc. (NASDAQ:KDK)’s stock price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $8.81, but opened at $8.24. Kodiak AI shares last traded at $8.6710, with a volume of 116,657 shares changing hands.

The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $0.52 million.

Analyst Upgrades and Downgrades

KDK has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak AI in a research note on Monday, December 29th. Chardan Capital reaffirmed a “buy” rating and set a $22.00 target price on shares of Kodiak AI in a research report on Wednesday. Finally, Wall Street Zen cut Kodiak AI to a “strong sell” rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Hedge Funds Weigh In On Kodiak AI

Several institutional investors have recently bought and sold shares of KDK. Amova Asset Management Americas Inc. bought a new stake in Kodiak AI during the third quarter valued at about $4,228,000. ARK Investment Management LLC bought a new position in Kodiak AI in the third quarter worth about $6,290,000. XTX Topco Ltd bought a new position in Kodiak AI in the fourth quarter worth about $188,000. Parkside Financial Bank & Trust purchased a new stake in shares of Kodiak AI during the fourth quarter valued at about $44,000. Finally, Ieq Capital LLC purchased a new stake in shares of Kodiak AI during the fourth quarter valued at about $186,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

Kodiak AI Stock Up 1.9%

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -26.41 and a beta of -0.34. The firm’s fifty day moving average price is $9.10.

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.