Eastman Kodak (NYSE:KODK) Hits New 12-Month High - Still a Buy?

Key Points

• Eastman Kodak hit a new 52-week high, trading as high as $13.38 (last at $12.96) on roughly 1.07 million shares, well above its 50- and 200-day moving averages (~$8.84 and $8.00).
• Weiss Ratings upgraded Kodak from a "sell (d+)" to a "hold (c-)", and the stock's consensus rating on MarketBeat remains "Hold."
• Fundamentals remain weak: Kodak reported a quarterly loss of ($1.23) EPS with a negative net margin (-11.97%) and negative ROE (-19.99%), though it has a market cap of about $1.26 billion and ~33.7% institutional ownership amid recent hedge fund buying.

Eastman Kodak Company (NYSE:KODK - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $13.38 and last traded at $12.9560, with a volume of 1065982 shares changing hands. The stock had previously closed at $13.16.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Eastman Kodak from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Eastman Kodak Stock Down 1.6%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.32 and a current ratio of 3.14. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -7.24 and a beta of 1.36. The stock's fifty day simple moving average is $8.84 and its two-hundred day simple moving average is $8.00.

Eastman Kodak (NYSE:KODK - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The technology company reported ($1.23) earnings per share for the quarter. Eastman Kodak had a negative net margin of 11.97% and a negative return on equity of 19.99%. The business had revenue of $290.00 million during the quarter.

Institutional Trading of Eastman Kodak

Hedge funds have recently bought and sold shares of the company. Denali Advisors LLC purchased a new stake in Eastman Kodak during the third quarter valued at about $836,000. First Eagle Investment Management LLC lifted its stake in Eastman Kodak by 45.9% during the third quarter. First Eagle Investment Management LLC now owns 734,433 shares of the technology company's stock valued at $4,708,000 after buying an additional 231,217 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in Eastman Kodak by 38.6% during the third quarter. Prescott Group Capital Management L.L.C. now owns 374,345 shares of the technology company's stock valued at $2,400,000 after buying an additional 104,345 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Eastman Kodak by 426.2% during the third quarter. New York State Common Retirement Fund now owns 45,681 shares of the technology company's stock valued at $293,000 after buying an additional 37,000 shares in the last quarter. Finally, Byrne Asset Management LLC lifted its stake in Eastman Kodak by 47.8% during the third quarter. Byrne Asset Management LLC now owns 10,170 shares of the technology company's stock valued at $65,000 after buying an additional 3,291 shares in the last quarter. 33.65% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.