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

Eastman Kodak Company (NYSE:KODK)’s share price gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of research firms recently commented on KODK. Wall Street Zen cut Eastman Kodak from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut Eastman Kodak from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Eastman Kodak Stock Up 4.7%

The stock’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $9.13. The stock has a market cap of $915.46 million, a P/E ratio of -4.97 and a beta of 1.56. 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 announced its earnings results on Tuesday, August 4th. The technology company reported $0.13 EPS for the quarter. Eastman Kodak had a negative net margin of 12.60% and a negative return on equity of 21.13%. The company had revenue of $311.00 million for the quarter.

Hedge Funds Weigh In On Eastman Kodak

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in Eastman Kodak by 32.8% in the 4th quarter. Marshall Wace LLP now owns 3,817,610 shares of the technology company’s stock valued at $32,297,000 after acquiring an additional 942,413 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Eastman Kodak by 225.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 830,732 shares of the technology company’s stock worth $7,028,000 after purchasing an additional 575,733 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Eastman Kodak by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company’s stock worth $48,329,000 after purchasing an additional 514,558 shares in the last quarter. Bank of America Corp DE increased its position in shares of 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 worth $3,004,000 after purchasing an additional 270,297 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Eastman Kodak by 199.6% in the third quarter. Two Sigma Investments LP now owns 403,162 shares of the technology company’s stock worth $2,584,000 after purchasing an additional 268,603 shares during the period. Institutional investors own 33.65% of the company’s stock.

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.