Eastman Kodak (NYSE:KODK) Shares Gap Down - Here's Why

Key Points

• Eastman Kodak shares gapped down, opening at $11.60 versus a prior close of $14.15 and trading down about 21.9% to roughly $11.05 on heavy volume (~785,606 shares).
• Analyst sentiment is mixed — Wall Street Zen upgraded to a Buy while Weiss Ratings cut to a Sell, and MarketBeat's average rating remains Sell.
• Fundamentals show a quarterly EPS loss of -$0.21 on $265M revenue with negative net margin and ROE, though liquidity is solid (quick ratio 2.32, current ratio 3.14) and market cap is about $1.08B.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $14.15, but opened at $11.60. Eastman Kodak shares last traded at $11.0540, with a volume of 785,606 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen raised Eastman Kodak from a "hold" rating to a "buy" rating in a report on Saturday, April 25th. Weiss Ratings cut Eastman Kodak from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Eastman Kodak Trading Down 21.9%

The company has a quick ratio of 2.32, a current ratio of 3.14 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $10.09 and a 200 day simple moving average of $8.52. The firm has a market capitalization of $1.08 billion, a P/E ratio of -6.18 and a beta of 1.66.

Eastman Kodak (NYSE:KODK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.21) EPS for the quarter. The business had revenue of $265.00 million for the quarter. Eastman Kodak had a negative net margin of 11.97% and a negative return on equity of 19.99%.

Institutional Investors Weigh In On Eastman Kodak

A number of institutional investors and hedge funds have recently bought and sold shares of KODK. AQR Capital Management LLC raised its holdings in Eastman Kodak by 8.1% during the first quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company's stock valued at $1,108,000 after acquiring an additional 13,129 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Eastman Kodak by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company's stock valued at $227,000 after acquiring an additional 1,566 shares during the period. Empowered Funds LLC raised its holdings in Eastman Kodak by 4.2% during the first quarter. Empowered Funds LLC now owns 435,379 shares of the technology company's stock valued at $2,752,000 after acquiring an additional 17,621 shares during the period. Creative Planning grew its position in shares of Eastman Kodak by 3.4% during the second quarter. Creative Planning now owns 52,090 shares of the technology company's stock valued at $294,000 after purchasing an additional 1,726 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Eastman Kodak by 3.1% during the second quarter. Rhumbline Advisers now owns 97,705 shares of the technology company's stock valued at $552,000 after purchasing an additional 2,927 shares in the last quarter. 33.65% of the stock is owned by institutional investors.

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.

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.