Kodiak AI (NASDAQ:KDK) Hits New 12-Month Low – Time to Sell?

Kodiak AI, Inc. (NASDAQ:KDK)’s stock price hit a new 52-week low on Friday . The stock traded as low as $4.12 and last traded at $4.1660, with a volume of 81784 shares traded. The stock had previously closed at $4.27.

Wall Street Analyst Weigh In

KDK has been the subject of several research reports. Weiss Ratings cut shares of Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Craig Hallum initiated coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 price objective on the stock. Chardan Capital cut their price objective on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Northland Securities set a $11.00 target price on shares of Kodiak AI in a report on Monday, May 11th. Finally, Citigroup decreased their target price on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.50.

Kodiak AI Stock Down 2.8%

The company has a market capitalization of $762.98 million, a PE ratio of -4.56 and a beta of 0.40. The firm has a 50-day moving average of $5.90 and a two-hundred day moving average of $7.66.

Hedge Funds Weigh In On Kodiak AI

Institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in shares of Kodiak AI by 190.3% in the 4th quarter. ARK Investment Management LLC now owns 2,669,456 shares of the company’s stock valued at $29,150,000 after purchasing an additional 1,749,863 shares during the period. Rokos Capital Management US LP acquired a new stake in Kodiak AI during the third quarter valued at $14,185,000. Amova Asset Management Americas Inc. grew 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 buying an additional 888,480 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Kodiak AI by 112.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,677,951 shares of the company’s stock valued at $11,645,000 after buying an additional 888,480 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Kodiak AI by 725.0% in the fourth quarter. Geode Capital Management LLC now owns 1,213,179 shares of the company’s stock valued at $13,254,000 after buying an additional 1,066,128 shares in the last quarter. 72.95% of the stock is owned by hedge funds and other 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.