Eastman Kodak (NYSE:KODK) Shares Up 6.3% – What’s Next?

Eastman Kodak Company (NYSE:KODK) shares rose 6.3% during mid-day trading on Wednesday . The company traded as high as $8.24 and last traded at $8.27. 533,677 shares were traded during trading, a decline of 50% from the average session volume of 1,064,937 shares. The stock had previously closed at $7.78.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KODK shares. Wall Street Zen lowered shares of Eastman Kodak from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Eastman Kodak Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.53 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $9.11 and a 200-day simple moving average of $9.10. The company has a market capitalization of $788.67 million, a P/E ratio of -4.28 and a beta of 1.54.

Eastman Kodak (NYSE:KODK) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter. Eastman Kodak had a negative return on equity of 21.13% and a negative net margin of 12.60%.The firm had revenue of $265.00 million for the quarter.

Institutional Investors Weigh In On Eastman Kodak

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Eastman Kodak by 438.9% in the 1st quarter. Bank of America Corp DE now owns 331,883 shares of the technology company’s stock valued at $3,004,000 after acquiring an additional 270,297 shares in the last quarter. Empowered Funds LLC boosted its holdings in Eastman Kodak by 9.9% in the first quarter. Empowered Funds LLC now owns 388,916 shares of the technology company’s stock valued at $3,520,000 after acquiring an additional 35,007 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Eastman Kodak by 13.7% in the first quarter. The Manufacturers Life Insurance Company now owns 17,672 shares of the technology company’s stock valued at $160,000 after acquiring an additional 2,124 shares during the last quarter. Quantinno Capital Management LP increased its position in Eastman Kodak by 38.5% in the first quarter. Quantinno Capital Management LP now owns 81,446 shares of the technology company’s stock worth $737,000 after purchasing an additional 22,650 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Eastman Kodak during the 1st quarter worth about $126,000. 33.65% of the stock is owned by institutional investors and hedge funds.

About Eastman Kodak

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.