Eastman Kodak (NYSE:KODK) Shares Gap Up - Here's What Happened

Key Points

• Eastman Kodak shares jumped 4.7%, opening at $10.02 versus a prior close of $8.93, before trading at $9.59 on volume of 391,591 shares.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “hold,” Weiss Ratings maintained a “sell” stance, and MarketBeat reports an average rating of “Sell.”
• Kodak reported quarterly EPS of $0.13 on revenue of $311 million, but continued to post a negative net margin of 12.6% and negative return on equity of 21.13%; institutional investors and hedge funds own 33.65% of the stock.

Eastman Kodak Company (NYSE:KODK - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $8.93, but opened at $10.02. Eastman Kodak shares last traded at $9.59, with a volume of 391,591 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on KODK shares. Wall Street Zen lowered Eastman Kodak from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings downgraded Eastman Kodak from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell".

Eastman Kodak Stock Up 4.7%

The firm's 50-day simple moving average is $8.91 and its 200 day simple moving average is $9.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.53. The stock has a market capitalization of $915.46 million, a P/E ratio of -4.97 and a beta of 1.56.

Eastman Kodak (NYSE:KODK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.13 EPS for the quarter. The company had revenue of $311.00 million during the quarter. Eastman Kodak had a negative net margin of 12.60% and a negative return on equity of 21.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its stake in shares of Eastman Kodak by 0.6% during the 1st quarter. First Trust Advisors LP now owns 224,077 shares of the technology company's stock worth $2,028,000 after purchasing an additional 1,294 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Eastman Kodak by 4.5% in 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 buying an additional 1,566 shares in the last quarter. AXQ Capital LP grew its stake in shares of Eastman Kodak by 7.9% in the fourth quarter. AXQ Capital LP now owns 21,459 shares of the technology company's stock valued at $182,000 after buying an additional 1,579 shares in the last quarter. Creative Planning increased its holdings in Eastman Kodak by 3.4% during the second quarter. Creative Planning now owns 52,090 shares of the technology company's stock worth $294,000 after buying an additional 1,726 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Eastman Kodak by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 23,887 shares of the technology company's stock worth $135,000 after buying an additional 1,964 shares during the last quarter. 33.65% of the stock is owned by institutional investors and hedge funds.

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.

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