Eastman Kodak (NYSE:KODK) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Eastman Kodak's share price surpassed its 50-day moving average of $6.22, achieving a high of $6.43 during trading, with the last recorded price at $6.39.
• The company reported a quarterly loss with an EPS of ($0.30) and revenue of $263 million, noting a return on equity of 2.32%.
• CEO James V. Continenza and Director Philippe D. Katz both increased their shareholdings in the company, indicating insider confidence amid a significant stock transaction.

Eastman Kodak Company (NYSE:KODK - Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.22 and traded as high as $6.43. Eastman Kodak shares last traded at $6.39, with a volume of 1,354,702 shares changing hands.

Eastman Kodak Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $517.91 million, a price-to-earnings ratio of -63.94 and a beta of 1.26. The company has a 50-day moving average of $6.22 and a 200-day moving average of $6.17.

Eastman Kodak (NYSE:KODK - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The technology company reported ($0.30) EPS for the quarter. Eastman Kodak had a return on equity of 2.32% and a net margin of 1.06%.The business had revenue of $263.00 million during the quarter.

Insider Buying and Selling

In related news, CEO James V. Continenza acquired 50,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $5.74 per share, for a total transaction of $287,000.00. Following the purchase, the chief executive officer directly owned 1,902,011 shares in the company, valued at $10,917,543.14. This represents a 2.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Philippe D. Katz bought 10,000 shares of the company's stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $5.67 per share, for a total transaction of $56,700.00. Following the completion of the transaction, the director directly owned 180,026 shares of the company's stock, valued at $1,020,747.42. This trade represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 23.86% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC acquired a new stake in shares of Eastman Kodak in the first quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its stake in Eastman Kodak by 78.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company's stock valued at $35,000 after acquiring an additional 2,723 shares in the last quarter. Byrne Asset Management LLC acquired a new position in Eastman Kodak during the 2nd quarter worth $39,000. Headlands Technologies LLC bought a new position in shares of Eastman Kodak in the second quarter worth $45,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Eastman Kodak by 239.7% during the second quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock valued at $46,000 after purchasing an additional 5,698 shares during the period. 33.65% of the stock is owned by institutional investors and hedge funds.

Eastman Kodak Company Profile

Eastman Kodak Company engages in the provision of hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, and entertainment markets worldwide. The company operates through three segments: Print, Advanced Materials and Chemicals, and Brand.

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