Eastman Kodak (NYSE:KODK) Shares Gap Up - What's Next?

Key Points

• Shares gapped up — KODK opened at $7.53 versus the prior close of $6.89, trading around $7.517 with roughly 924,658 shares changing hands and up about 6.2%.
• Analyst sentiment remains negative — despite a Wall Street Zen upgrade to Hold, MarketBeat shows a consensus rating of "Sell" (including a Weiss Ratings "sell (d+)").
• Weak recent results but institutional interest — the company reported EPS of ($1.23) last quarter and a negative P/E with a market cap of about $705.3M, while institutional ownership is ~33.65% and several funds increased or initiated positions in Q4.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $6.89, but opened at $7.53. Eastman Kodak shares last traded at $7.5170, with a volume of 924,658 shares trading hands.

Analyst Ratings Changes

KODK has been the topic of several recent research reports. Wall Street Zen upgraded Eastman Kodak from a "sell" rating to a "hold" rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Eastman Kodak in a report on Wednesday, January 21st. One investment 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 Trading Up 6.2%

The business has a 50 day simple moving average of $7.46 and a 200-day simple moving average of $7.22. The stock has a market capitalization of $705.26 million, a price-to-earnings ratio of -22.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.79 and a quick ratio of 0.48.

Eastman Kodak (NYSE:KODK - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The technology company reported ($1.23) EPS for the quarter. Eastman Kodak had a return on equity of 1.72% and a net margin of 0.57%.The business had revenue of $290.00 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Eastman Kodak in the fourth quarter valued at approximately $134,000. Empowered Funds LLC raised its holdings in shares of Eastman Kodak by 10.9% during the fourth quarter. Empowered Funds LLC now owns 353,909 shares of the technology company's stock worth $2,994,000 after acquiring an additional 34,646 shares during the period. XTX Topco Ltd lifted its position in Eastman Kodak by 17.3% in the 4th quarter. XTX Topco Ltd now owns 65,967 shares of the technology company's stock valued at $558,000 after acquiring an additional 9,744 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Eastman Kodak in the 4th quarter valued at $475,000. Finally, Tudor Investment Corp ET AL bought a new stake in Eastman Kodak in the 4th quarter valued at $116,000. 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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