Eastman Kodak (NYSE:KODK) Reaches New 52-Week High - What's Next?

Key Points

• Eastman Kodak stock hit a new 52-week high, trading as high as $14.29 and last at $13.36 on roughly 1.33M shares, trading well above its 50-day ($9.46) and 200-day ($8.27) moving averages.
• Analyst sentiment has shifted recently with Wall Street Zen upgrading to a buy and Weiss Ratings moving to hold, but the MarketBeat consensus rating for KODK remains Hold.
• Underlying fundamentals are weak — Kodak reported ($1.23) EPS for the quarter, a negative PE and ROE, and a market cap around $1.3B — even as several large institutions (Marshall Wace, Goldman Sachs, Vanguard, Two Sigma, Millennium) have materially increased their stakes.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.29 and last traded at $13.3590, with a volume of 1327834 shares traded. The stock had previously closed at $12.94.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KODK shares. Wall Street Zen upgraded shares of Eastman Kodak from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Eastman Kodak currently has a consensus rating of "Hold".

Eastman Kodak Price Performance

The stock's 50 day moving average is $9.46 and its two-hundred day moving average is $8.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.14 and a quick ratio of 2.32. The stock has a market capitalization of $1.30 billion, a PE ratio of -7.46 and a beta of 1.36.

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

Institutional Trading of Eastman Kodak

A number of large investors have recently made changes to their positions in KODK. Marshall Wace LLP increased its stake in Eastman Kodak by 32.8% in the fourth quarter. Marshall Wace LLP now owns 3,817,610 shares of the technology company's stock valued at $32,297,000 after purchasing an additional 942,413 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Eastman Kodak by 225.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 830,732 shares of the technology company's stock valued at $7,028,000 after purchasing an additional 575,733 shares during the last quarter. Vanguard Group Inc. increased its stake in Eastman Kodak by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company's stock valued at $48,329,000 after purchasing an additional 514,558 shares during the last quarter. Two Sigma Investments LP increased its stake in Eastman Kodak by 199.6% in the third quarter. Two Sigma Investments LP now owns 403,162 shares of the technology company's stock valued at $2,584,000 after purchasing an additional 268,603 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Eastman Kodak by 97.2% in the fourth quarter. Millennium Management LLC now owns 536,957 shares of the technology company's stock valued at $4,543,000 after purchasing an additional 264,629 shares during the last quarter. 33.65% of the stock is currently 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.

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