Kodiak AI (NASDAQ:KDK) Trading Up 3.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC assumed coverage on Kodiak AI in a report on Wednesday, September 9th. They set a “buy” rating and a $8.00 price target on the stock. Citigroup reiterated a “buy” rating on shares of Kodiak AI in a research report on Wednesday, August 19th. Wall Street Zen downgraded Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd. Oppenheimer assumed coverage on Kodiak AI in a report on Tuesday, August 25th. They issued an “outperform” rating and a $9.00 price target on the stock. Finally, Morgan Stanley started coverage on Kodiak AI in a research note on Friday. They issued an “equal weight” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kodiak AI presently has a consensus rating of “Moderate Buy” and an average target price of $10.89.

Read Our Latest Analysis on KDK

Kodiak AI Stock Performance

The business’s fifty day moving average price is $4.17 and its two-hundred day moving average price is $6.34. The stock has a market capitalization of $789.44 million, a P/E ratio of -0.84 and a beta of 0.42.

Kodiak AI (NASDAQ:KDKGet Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.33). The firm had revenue of $3.50 million during the quarter. As a group, analysts forecast that Kodiak AI, Inc. will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Kodiak AI by 112.5% during 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 last quarter. BlackRock Inc. purchased a new position in Kodiak AI in the second quarter valued at about $9,073,000. Alyeska Investment Group L.P. bought a new position in Kodiak AI in the second quarter worth about $19,538,000. Amova Asset Management Americas Inc. raised its holdings in Kodiak AI by 112.5% in the first quarter. Amova Asset Management Americas Inc. now owns 1,677,951 shares of the company’s stock worth $11,628,000 after purchasing an additional 888,480 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of 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 buying an additional 547,192 shares during the last quarter. 72.95% of the stock is owned by institutional investors.

Kodiak AI Company Profile

(Get Free Report)

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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