Eastman Kodak (NYSE:KODK) Shares Pass Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Eastman Kodak's share price has dropped below its 200-day moving average, with the stock trading at $5.81 after reaching a low of $5.74.
• This week, Wall Street Zen has downgraded Kodak's rating from "hold" to "sell," indicating concerns over the stock's performance.
• CEO James V. Continenza and Director Philippe D. Katz have recently increased their shareholdings in Kodak, showing insider confidence in the company's future.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.36 and traded as low as $5.74. Eastman Kodak shares last traded at $5.81, with a volume of 1,361,073 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Eastman Kodak from a "hold" rating to a "sell" rating in a research note on Monday, May 12th.

Eastman Kodak Stock Performance

The company has a 50 day moving average price of $6.33 and a 200-day moving average price of $6.36. 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 company has a market cap of $470.21 million, a P/E ratio of -58.05 and a beta of 0.90.

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

Insider Buying and Selling at Eastman Kodak

In other Eastman Kodak news, CEO James V. Continenza purchased 50,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were bought at an average price of $5.74 per share, for a total transaction of $287,000.00. Following the purchase, the chief executive officer owned 1,902,011 shares in the company, valued at approximately $10,917,543.14. This trade represents a 2.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philippe D. Katz acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $5.67 per share, for a total transaction of $56,700.00. Following the acquisition, the director owned 180,026 shares in the company, valued at $1,020,747.42. This represents a 5.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 23.86% of the company's stock.

Institutional Investors Weigh In On Eastman Kodak

Several hedge funds have recently modified their holdings of KODK. LPL Financial LLC boosted its holdings in shares of Eastman Kodak by 27.6% during the 4th quarter. LPL Financial LLC now owns 18,337 shares of the technology company's stock valued at $120,000 after acquiring an additional 3,968 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Eastman Kodak by 1.9% during the 4th quarter. Invesco Ltd. now owns 350,171 shares of the technology company's stock valued at $2,301,000 after acquiring an additional 6,452 shares in the last quarter. Barclays PLC boosted its holdings in shares of Eastman Kodak by 15.0% during the 4th quarter. Barclays PLC now owns 90,970 shares of the technology company's stock valued at $597,000 after acquiring an additional 11,876 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Eastman Kodak by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,465,814 shares of the technology company's stock valued at $16,202,000 after acquiring an additional 123,669 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Eastman Kodak by 27.1% during the 4th quarter. MetLife Investment Management LLC now owns 32,961 shares of the technology company's stock valued at $217,000 after acquiring an additional 7,032 shares in the last quarter. Institutional investors and hedge funds own 33.65% of the company's stock.

About Eastman Kodak

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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