Kodiak AI’s (KDK) “Buy” Rating Reaffirmed at Chardan Capital

Kodiak AI (NASDAQ:KDK)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report issued on Friday, Benzinga reports. They presently have a $12.00 price target on the stock.

Several other equities analysts have also recently issued reports on KDK. Craig Hallum started coverage on Kodiak AI in a report on Monday, June 15th. They issued a “buy” rating and a $12.00 price target on the stock. Oppenheimer started 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. Citigroup reiterated a “buy” rating on shares of Kodiak AI in a report on Wednesday, August 19th. Weiss Ratings cut Kodiak AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, Zacks Research cut Kodiak AI from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.89.

Kodiak AI Price Performance

Shares of KDK stock traded down $0.25 during trading hours on Friday, hitting $1.67. 9,347,003 shares of the company’s stock were exchanged, compared to its average volume of 1,229,080. The stock’s 50-day moving average is $3.72 and its 200-day moving average is $5.82. The stock has a market cap of $335.04 million, a price-to-earnings ratio of -0.35 and a beta of 0.42. Kodiak AI has a 52 week low of $1.63 and a 52 week high of $11.35.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million during the quarter. Equities research analysts forecast that Kodiak AI will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak AI

Several hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new position in Kodiak AI in the second quarter valued at about $19,538,000. BlackRock Inc. acquired a new position in Kodiak AI in the second quarter valued at about $9,073,000. Amova Asset Management Americas Inc. lifted its stake 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 valued at $11,628,000 after buying an additional 888,480 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Kodiak AI in the second quarter valued at about $1,276,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Kodiak AI

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.