Kodiak AI (NASDAQ:KDK) Stock Price Down 5.7% – Should You Sell?

Kodiak AI, Inc. (NASDAQ:KDKGet Free Report)’s stock price dropped 5.7% during mid-day trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.33. Approximately 528,106 shares changed hands during trading, a decline of 36% from the average session volume of 831,655 shares. The stock had previously closed at $4.59.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Wall Street Zen lowered Kodiak AI from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Chardan Capital decreased 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 report on Friday, May 8th. Craig Hallum began coverage on shares of Kodiak AI in a research note on Monday, June 15th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Citigroup dropped 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 analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Kodiak AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

View Our Latest Stock Analysis on Kodiak AI

Kodiak AI Price Performance

The company has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $7.11. The stock has a market cap of $762.79 million, a P/E ratio of -0.88 and a beta of 0.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new stake in shares of Kodiak AI in the 3rd quarter valued at $36,000. Parkside Financial Bank & Trust purchased a new stake in shares of Kodiak AI during the fourth quarter valued at approximately $44,000. Farther Finance Advisors LLC purchased a new stake in shares of Kodiak AI during the fourth quarter valued at approximately $78,000. Cannon Global Investment Management LLC bought a new position in shares of Kodiak AI in the first quarter worth approximately $119,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Kodiak AI in the first quarter worth approximately $125,000. 72.95% of the stock is currently owned by institutional investors.

About Kodiak AI

(Get Free Report)

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.

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