Eastman Kodak (NYSE:KODK) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Eastman Kodak Company (NYSE:KODK)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $9.42 and traded as high as $10.19. Eastman Kodak shares last traded at $10.0360, with a volume of 901,594 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Eastman Kodak from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Eastman Kodak to a “hold” rating in a research note on Thursday, September 17th. Finally, Weiss Ratings raised Eastman Kodak from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Eastman Kodak Stock Down 1.2%

The company has a market capitalization of $955.11 million, a price-to-earnings ratio of -7.02 and a beta of 1.57. The company has a current ratio of 2.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The firm’s 50 day simple moving average is $9.46 and its 200-day simple moving average is $9.82.

Eastman Kodak (NYSE:KODK) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share for the quarter. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The business had revenue of $311.00 million for the quarter. On average, sell-side analysts anticipate that Eastman Kodak Company will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Eastman Kodak

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Eastman Kodak during the second quarter worth $1,941,000. State Street Corp lifted its holdings in Eastman Kodak by 16.2% in the second quarter. State Street Corp now owns 2,345,933 shares of the technology company’s stock valued at $21,700,000 after acquiring an additional 326,398 shares during the period. Bank of America Corp DE lifted its holdings in Eastman Kodak by 438.9% in the first 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of Eastman Kodak by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company’s stock worth $19,707,000 after purchasing an additional 113,398 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Eastman Kodak by 1,513.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,869 shares of the technology company’s stock worth $628,000 after purchasing an additional 63,663 shares during the period. Institutional investors and hedge funds own 33.65% of the company’s stock.

About Eastman Kodak

Eastman Kodak Company, operating under the Kodak brand, is a technology company that provides products and services for commercial printing, publishing, packaging and other imaging-related markets. Its offerings include digital printing presses, workflow software, prepress systems, offset printing plates, inks and related consumables. Kodak also supplies motion picture film and other specialty imaging products to customers in the media and entertainment industries.

The company’s Advanced Materials and Chemicals activities support applications in areas such as specialty chemicals, coatings and other manufactured materials.