Eastman Kodak (NYSE:KODK) Share Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Eastman Kodak shares fell below their 200-day moving average on Friday, dropping as low as $7.60 before last trading around $7.64. The 200-day moving average is $9.11, signaling recent weakness in the stock.
• Analyst sentiment is negative, with Weiss Ratings downgrading KODK to "sell" and Wall Street Zen cutting it to "hold." MarketBeat data shows a current consensus rating of "Sell."
• Recent financial results were mixed to weak, as Kodak reported a Q1 loss of $0.21 per share on revenue of $265 million. The company also posted a negative net margin and negative return on equity.

Shares of Eastman Kodak Company (NYSE:KODK - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.11 and traded as low as $7.60. Eastman Kodak shares last traded at $7.6420, with a volume of 648,917 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on KODK. Weiss Ratings downgraded shares of Eastman Kodak from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 29th. Wall Street Zen cut Eastman Kodak from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Eastman Kodak Price Performance

The company has a market capitalization of $748.23 million, a P/E ratio of -4.06 and a beta of 1.54. The company's 50-day moving average price is $9.28 and its two-hundred day moving average price is $9.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.53 and a quick ratio of 1.71.

Eastman Kodak (NYSE:KODK - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.21) earnings per share 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 $265.00 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted 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 during the period. Farther Finance Advisors LLC lifted its stake in Eastman Kodak by 2,394.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,033 shares of the technology company's stock worth $59,000 after purchasing an additional 6,751 shares in the last quarter. Headlands Technologies LLC bought a new stake in Eastman Kodak in the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC raised its holdings in shares of Eastman Kodak by 239.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock worth $46,000 after acquiring an additional 5,698 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Eastman Kodak in the 4th quarter worth about $71,000. 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.

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