Eastman Kodak (NYSE:KODK) Stock Price Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• Eastman Kodak's stock has recently surpassed its 50-day moving average, reaching a high of $6.82 before trading at $6.71.
• Despite the stock's recent performance, analysts from Weiss Ratings have reaffirmed a "sell" rating, indicating a negative outlook for the company.
• Insider trading activities show significant purchases by both the director and CEO, suggesting confidence in the stock, with the CEO increasing his stake by 2.70%.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.24 and traded as high as $6.82. Eastman Kodak shares last traded at $6.71, with a volume of 754,022 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Eastman Kodak in a research report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

Eastman Kodak Trading Up 3.2%

The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $543.11 million, a P/E ratio of -67.05 and a beta of 1.49. The firm has a 50 day moving average of $6.24 and a 200-day moving average of $6.22.

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 company had revenue of $263.00 million during the quarter.

Insider Activity at Eastman Kodak

In other news, Director Philippe D. Katz acquired 10,000 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $56,700.00. Following the completion of the transaction, the director directly owned 180,026 shares in the company, valued at approximately $1,020,747.42. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James V. Continenza acquired 50,000 shares of the stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $5.74 per share, with a total value of $287,000.00. Following the completion of the transaction, the chief executive officer owned 1,902,011 shares of the company's stock, valued at approximately $10,917,543.14. This represents a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in Eastman Kodak during the first quarter valued at approximately $27,000. BNP Paribas Financial Markets raised its position in Eastman Kodak by 78.2% during 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 in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Eastman Kodak during the second quarter worth $39,000. Headlands Technologies LLC acquired a new position in shares of Eastman Kodak during the second quarter worth $45,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Eastman Kodak by 239.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company's stock valued at $46,000 after acquiring an additional 5,698 shares during the last quarter. 33.65% of the stock is currently owned by institutional investors and hedge funds.

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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