Eastman Kodak (NYSE:KODK) Stock Price Up 6.3% – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen lowered Eastman Kodak from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings lowered Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Eastman Kodak Price Performance

The stock has a market capitalization of $810.30 million, a PE ratio of -4.40 and a beta of 1.54. The business’s 50-day moving average price is $9.18 and its 200 day moving average price is $9.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.53.

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

Institutional Trading of Eastman Kodak

A number of large investors have recently modified their holdings of the business. FourThought Financial Partners LLC bought a new stake in Eastman Kodak during the fourth quarter valued at approximately $443,000. Vanguard Group Inc. increased its holdings in shares of Eastman Kodak by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company’s stock worth $48,329,000 after buying an additional 514,558 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Eastman Kodak by 78.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company’s stock worth $35,000 after buying an additional 2,723 shares during the last quarter. Bank of America Corp DE raised its position in shares of Eastman Kodak by 438.9% during 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 buying an additional 270,297 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Eastman Kodak by 38.5% during the 1st quarter. Quantinno Capital Management LP now owns 81,446 shares of the technology company’s stock worth $737,000 after acquiring an additional 22,650 shares during the last quarter. Institutional investors own 33.65% of the company’s stock.

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.