Eastman Kodak (NYSE:KODK) Shares Gap Up – Here’s Why

Eastman Kodak Company (NYSE:KODK) gapped up prior to trading on Wednesday . The stock had previously closed at $8.93, but opened at $10.02. Eastman Kodak shares last traded at $9.59, with a volume of 391,591 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Weiss Ratings lowered shares of Eastman Kodak from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded Eastman Kodak from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Eastman Kodak Trading Up 2.0%

The company’s fifty day simple moving average is $8.89 and its two-hundred day simple moving average is $9.16. The company has a market capitalization of $943.85 million, a price-to-earnings ratio of -6.88 and a beta of 1.56. The company has a quick ratio of 1.71, a current ratio of 2.91 and a debt-to-equity ratio of 0.17.

Eastman Kodak (NYSE:KODK) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share (EPS) for the quarter. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The company had revenue of $311.00 million during the quarter.

Institutional Investors Weigh In On Eastman Kodak

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Eastman Kodak by 78.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company’s stock valued at $35,000 after purchasing an additional 2,723 shares in the last quarter. Headlands Technologies LLC bought a new stake in Eastman Kodak during the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC lifted its stake in Eastman Kodak by 239.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company’s stock valued at $46,000 after buying an additional 5,698 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Eastman Kodak by 2,394.0% in the fourth quarter. Farther Finance Advisors LLC now owns 7,033 shares of the technology company’s stock valued at $59,000 after buying an additional 6,751 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Eastman Kodak in the fourth quarter valued at approximately $71,000. 33.65% of the stock is currently owned by institutional investors.

Eastman Kodak Company Profile

Eastman Kodak Company (NYSE: KODK) is a global technology firm specializing in imaging, printing and advanced materials. The company offers a wide array of products and services that enable customers to create, manage and share visual content across traditional and digital platforms. Its core offerings include graphic communications solutions, enterprise inkjet systems, packaging technologies, functional printing and micro 3D printing systems.

Kodak’s graphic communications segment serves commercial printers, packaging converters and publishing houses with offset plates, digital presses, workflow software and services designed to streamline production.