Short Interest in Eastman Kodak Company (NYSE:KODK) Increases By 22.1%

Key Points

• Short interest in Eastman Kodak surged by 22.1% to 5,620,523 shares as of March 31, equal to 7.6% of shares outstanding and a days-to-cover of 3.8.
• Kodak reported a quarterly loss of $1.23 EPS on $290 million revenue with a negative net margin (11.97%) and ROE (-19.99%); the company has a market cap of about $1.25 billion and a 12‑month high of $13.00.
• Institutional investors have been adding to positions—Vanguard, Marshall Wace and Goldman Sachs notably increased stakes—and institutions now own 33.65% of the stock; Weiss Ratings recently upgraded Kodak to a Hold and the consensus rating is Hold.

Eastman Kodak Company (NYSE:KODK - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 5,620,523 shares, an increase of 22.1% from the March 15th total of 4,603,835 shares. Currently, 7.6% of the company's shares are sold short. Based on an average trading volume of 1,496,078 shares, the days-to-cover ratio is presently 3.8 days.

Eastman Kodak Stock Up 0.2%

Shares of KODK opened at $12.83 on Friday. The firm has a market cap of $1.25 billion, a P/E ratio of -7.17 and a beta of 1.36. Eastman Kodak has a 12-month low of $4.94 and a 12-month high of $13.00. The company's 50-day moving average price is $8.62 and its 200 day moving average price is $7.89. The company has a current ratio of 3.14, a quick ratio of 2.32 and a debt-to-equity ratio of 0.34.

Eastman Kodak (NYSE:KODK - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The technology company reported ($1.23) earnings per share (EPS) for the quarter. The company 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 Trading of Eastman Kodak

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Eastman Kodak by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company's stock worth $48,329,000 after purchasing an additional 514,558 shares during the period. Marshall Wace LLP increased its stake in Eastman Kodak by 32.8% during the fourth 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% during the fourth quarter. Goldman Sachs Group Inc. now owns 830,732 shares of the technology company's stock worth $7,028,000 after purchasing an additional 575,733 shares during the period. Bridgeway Capital Management LLC increased its stake in Eastman Kodak by 3.6% during the second quarter. Bridgeway Capital Management LLC now owns 760,108 shares of the technology company's stock worth $4,295,000 after purchasing an additional 26,729 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Eastman Kodak by 45.9% during the third quarter. First Eagle Investment Management LLC now owns 734,433 shares of the technology company's stock worth $4,708,000 after purchasing an additional 231,217 shares during the period. 33.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Eastman Kodak Company Profile

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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