Eastman Kodak (NYSE:KODK) Shares Up 6.3% - Here's Why

Key Points

• Eastman Kodak shares rose 6.3% on Wednesday, trading as high as $8.24 after closing at $7.78 the previous day. Trading volume was about 533,677 shares, roughly half of its average daily volume.
• Analyst sentiment remains negative, with Weiss Ratings cutting KODK to a sell rating and Wall Street Zen lowering it to hold. MarketBeat data shows the stock’s overall average rating is still “Sell.”
• Recent financials were weak, as Kodak reported a loss of $0.21 per share on revenue of $265 million in its latest quarterly results. The company also posted a negative net margin and negative return on equity.

Shares of Eastman Kodak Company (NYSE:KODK - Get Free Report) rose 6.3% on Wednesday . The stock traded as high as $8.24 and last traded at $8.27. Approximately 533,677 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,064,937 shares. The stock had previously closed at $7.78.

Wall Street Analysts Forecast Growth

KODK has been the subject of several research analyst reports. Weiss Ratings lowered Eastman Kodak from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 29th. Wall Street Zen downgraded shares of Eastman Kodak from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of "Sell".

Eastman Kodak Price Performance

The company has a current ratio of 2.53, a quick ratio of 1.71 and a debt-to-equity ratio of 0.18. The business's fifty day moving average is $9.18 and its 200 day moving average is $9.10. The company has a market cap of $810.30 million, a P/E ratio of -4.40 and a beta of 1.54.

Eastman Kodak (NYSE:KODK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.21) earnings per share for the quarter. The firm had revenue of $265.00 million for the quarter. Eastman Kodak had a negative net margin of 12.60% and a negative return on equity of 21.13%.

Institutional Investors Weigh In On Eastman Kodak

Several large investors have recently added to or reduced their stakes in KODK. AQR Capital Management LLC raised its stake in Eastman Kodak by 8.1% in the 1st 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. increased 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 worth $227,000 after purchasing an additional 1,566 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Eastman Kodak by 4.2% in the first quarter. Empowered Funds LLC now owns 435,379 shares of the technology company's stock worth $2,752,000 after purchasing an additional 17,621 shares in the last quarter. Creative Planning raised its position in shares of Eastman Kodak by 3.4% in 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 during the period. Finally, Rhumbline Advisers raised its position in shares of Eastman Kodak by 3.1% in 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 during the period. Hedge funds and other institutional investors own 33.65% of the company's stock.

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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