Eastman Kodak (NYSE:KODK) Stock Price Up 8.3% - Here's Why

Key Points

• Shares jumped 8.3% on Friday, trading as high as $9.43 and last at $9.6170 on intraday volume of 499,643 shares.
• The stock carries a consensus "Sell" rating, with Weiss Ratings recently restating a "sell (d+)" recommendation.
• Fundamentals remain weak: Kodak reported a ($1.23) EPS on $290M revenue, with negative ROE (−19.99%) and net margin (−11.97%), and a market cap of roughly $929 million.

Eastman Kodak Company (NYSE:KODK - Get Free Report) shot up 8.3% during trading on Friday . The company traded as high as $9.43 and last traded at $9.6170. 499,643 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 839,852 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Eastman Kodak in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Eastman Kodak Price Performance

The stock has a market capitalization of $928.69 million, a PE ratio of -5.34 and a beta of 1.49. The firm's fifty day moving average price is $7.47 and its two-hundred day moving average price is $7.36. The company has a quick ratio of 2.32, a current ratio of 3.14 and a debt-to-equity ratio of 0.34.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Eastman Kodak by 78.2% during the 2nd 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. Headlands Technologies LLC purchased a new position in shares of Eastman Kodak in the second quarter worth approximately $45,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $46,000 after buying an additional 5,698 shares during the last quarter. Farther Finance Advisors LLC grew its position in Eastman Kodak by 2,394.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,033 shares of the technology company's stock valued at $59,000 after buying an additional 6,751 shares during the period. Finally, Byrne Asset Management LLC increased its holdings in Eastman Kodak by 47.8% during the third quarter. Byrne Asset Management LLC now owns 10,170 shares of the technology company's stock valued at $65,000 after buying an additional 3,291 shares during the last quarter. 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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