Eastman Kodak (NYSE:KODK) Stock Price Down 7.7% - Here's What Happened

Key Points

• Eastman Kodak shares fell 7.7% on Monday, trading as low as $8.82 and last at $8.7340 on volume of 376,200 shares, about 57% below the average session volume.
• Weiss Ratings reaffirmed a sell (d+) rating and MarketBeat shows a consensus Sell rating for KODK.
• Kodak reported a quarterly loss of ($1.23) EPS on $290 million in revenue, with a negative net margin and negative return on equity, underscoring ongoing profitability challenges.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s share price fell 7.7% on Monday . The company traded as low as $8.82 and last traded at $8.7340. 376,200 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 875,462 shares. The stock had previously closed at $9.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Eastman Kodak in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eastman Kodak presently has a consensus rating of "Sell".

Eastman Kodak Stock Performance

The firm has a fifty day simple moving average of $7.52 and a 200-day simple moving average of $7.41. The company has a quick ratio of 2.32, a current ratio of 3.14 and a debt-to-equity ratio of 0.34. The company has a market cap of $850.69 million, a PE ratio of -4.88 and a beta of 1.49.

Eastman Kodak (NYSE:KODK - Get Free Report) last announced its earnings results on Thursday, March 12th. The technology company reported ($1.23) earnings per share (EPS) for the quarter. The firm had revenue of $290.00 million during the quarter. Eastman Kodak had a negative net margin of 11.97% and a negative return on equity of 19.99%.

Institutional Investors Weigh In On Eastman Kodak

Large investors have recently modified their holdings of the company. Marshall Wace LLP boosted its stake in Eastman Kodak by 32.8% during the 4th quarter. Marshall Wace LLP now owns 3,817,610 shares of the technology company's stock worth $32,297,000 after purchasing an additional 942,413 shares during the period. Goldman Sachs Group Inc. increased its stake in Eastman Kodak by 225.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 830,732 shares of the technology company's stock valued at $7,028,000 after purchasing an additional 575,733 shares during the period. Vanguard Group Inc. increased its stake in Eastman Kodak by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company's stock valued at $48,329,000 after purchasing an additional 514,558 shares during the period. Two Sigma Investments LP raised its holdings in shares of Eastman Kodak by 199.6% in the third quarter. Two Sigma Investments LP now owns 403,162 shares of the technology company's stock valued at $2,584,000 after buying an additional 268,603 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Eastman Kodak by 97.2% in the fourth quarter. Millennium Management LLC now owns 536,957 shares of the technology company's stock valued at $4,543,000 after buying an additional 264,629 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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