Kodiak AI (NASDAQ:KDK) Stock Rating Upgraded by Zacks Research

Kodiak AI (NASDAQ:KDK) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

KDK has been the topic of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Kodiak AI in a report on Monday, September 28th. Morgan Stanley began coverage on shares of Kodiak AI in a research note on Friday, September 11th. They set an “equal weight” rating and a $9.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Kodiak AI in a report on Friday, September 25th. Wall Street Zen downgraded shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Finally, Oppenheimer began coverage on shares of Kodiak AI in a research note on Tuesday, August 25th. They issued an “outperform” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kodiak AI has a consensus rating of “Moderate Buy” and an average target price of $10.89.

Kodiak AI Price Performance

Shares of KDK stock opened at $1.59 on Wednesday. The business has a fifty day moving average of $3.21 and a 200 day moving average of $5.39. Kodiak AI has a 1 year low of $1.51 and a 1 year high of $11.35. The firm has a market capitalization of $318.99 million, a price-to-earnings ratio of -0.34 and a beta of 0.60.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The business had revenue of $3.50 million during the quarter. As a group, equities research analysts expect that Kodiak AI will post -0.93 earnings per share for the current year.

Hedge Funds Weigh In On Kodiak AI

Several institutional investors have recently made changes to their positions in the company. 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. BlackRock Inc. acquired a new position in shares of Kodiak AI in the second quarter worth about $9,073,000. Alyeska Investment Group L.P. acquired a new position in shares of Kodiak AI in the second quarter worth about $19,538,000. Amova Asset Management Americas Inc. raised its position in shares of 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 acquiring an additional 888,480 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Kodiak AI during the 2nd quarter worth about $1,276,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

About Kodiak AI

Kodiak AI, Inc develops autonomous vehicle technology designed primarily for the trucking and logistics industries. Its platform is intended to enable autonomous operation of heavy-duty commercial vehicles, with an emphasis on improving transportation safety, efficiency and reliability.

The company’s technology includes the Kodiak Driver, an autonomous driving system that combines sensors, onboard computing and artificial-intelligence software to perceive road conditions, plan routes and control vehicles.