Eastman Kodak (NYSE:KODK) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

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) shares crossed 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 changing hands.

Wall Street Analyst Weigh In

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

Eastman Kodak Trading Up 2.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.79 and a quick ratio of 0.46. The company has a market cap of $479.12 million, a PE ratio of -59.15 and a beta of 1.26. The company's 50 day simple moving average is $6.33 and its two-hundred day simple moving average is $6.30.

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

Insider Activity

In related news, Director Philippe D. Katz bought 10,000 shares of the stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $5.67 per share, with a total value of $56,700.00. Following the completion of the purchase, the director directly owned 180,026 shares in the company, valued at $1,020,747.42. This represents a 5.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James V. Continenza bought 50,000 shares of the stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $5.74 per share, with a total value of $287,000.00. Following the purchase, the chief executive officer owned 1,902,011 shares of the company's stock, valued at $10,917,543.14. This trade represents a 2.70% 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Eastman Kodak in the second quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its stake in shares of Eastman Kodak by 239.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock valued at $46,000 after purchasing an additional 5,698 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Eastman Kodak by 78.2% in the second quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company's stock valued at $35,000 after purchasing an additional 2,723 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Eastman Kodak by 3.6% in the second quarter. Bridgeway Capital Management LLC now owns 760,108 shares of the technology company's stock valued at $4,295,000 after purchasing an additional 26,729 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Eastman Kodak in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 33.65% of the company's stock.

Eastman Kodak Company Profile

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.