Eastman Kodak (NYSE:KODK) Shares Break Above 50 Day Moving Average - Here's Why

Key Points

• Eastman Kodak shares broke above their 50-day moving average, reaching $10.19 before closing near $10.04, compared with the $9.42 moving average, on trading volume of about 902,000 shares.
• Analyst sentiment remains generally cautious: ratings included Hold and Sell, giving the stock an overall “Reduce” consensus, despite one research firm upgrading it to Buy.
• Institutional ownership stands at 33.65%, with several major investors increasing their positions, including State Street, Bank of America, Dimensional Fund Advisors and UBS.

Eastman Kodak Company (NYSE:KODK - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $9.42 and traded as high as $10.19. Eastman Kodak shares last traded at $10.0360, with a volume of 901,594 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Eastman Kodak to a "hold" rating in a research report on Thursday, September 17th. Finally, Wall Street Zen raised shares of Eastman Kodak from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Eastman Kodak Stock Performance

The stock has a market cap of $982.59 million, a P/E ratio of -7.22 and a beta of 1.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.91 and a quick ratio of 1.95. The company has a fifty day moving average of $9.42 and a 200 day moving average of $9.81.

Eastman Kodak (NYSE:KODK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.13 earnings per share (EPS) for the quarter. Eastman Kodak had a negative return on equity of 14.47% and a negative net margin of 8.28%.The firm had revenue of $311.00 million during the quarter. On average, equities analysts predict that Eastman Kodak Company will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KODK. Bank of New York Mellon Corp bought a new position in shares of Eastman Kodak during the 2nd quarter valued at about $1,941,000. State Street Corp grew its stake in shares of Eastman Kodak by 16.2% in the 2nd quarter. State Street Corp now owns 2,345,933 shares of the technology company's stock worth $21,700,000 after purchasing an additional 326,398 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Eastman Kodak by 438.9% in the 1st quarter. Bank of America Corp DE now owns 331,883 shares of the technology company's stock worth $3,004,000 after purchasing an additional 270,297 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Eastman Kodak by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company's stock worth $19,707,000 after purchasing an additional 113,398 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eastman Kodak by 1,513.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,869 shares of the technology company's stock valued at $628,000 after purchasing an additional 63,663 shares during the last quarter. Institutional investors own 33.65% of the company's stock.

Eastman Kodak Company Profile

Eastman Kodak Company, operating under the Kodak brand, is a technology company that provides products and services for commercial printing, publishing, packaging and other imaging-related markets. Its offerings include digital printing presses, workflow software, prepress systems, offset printing plates, inks and related consumables. Kodak also supplies motion picture film and other specialty imaging products to customers in the media and entertainment industries.

The company's Advanced Materials and Chemicals activities support applications in areas such as specialty chemicals, coatings and other manufactured materials.

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