Eastman Kodak (NYSE:KODK) Trading 8.6% Higher – Here’s Why

Eastman Kodak Company (NYSE:KODK)’s share price was up 8.6% during mid-day trading on Monday . The company traded as high as $8.93 and last traded at $9.0450. Approximately 226,072 shares were traded during trading, a decline of 83% from the average daily volume of 1,356,453 shares. The stock had previously closed at $8.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KODK shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eastman Kodak in a research note on Wednesday, October 8th. Wall Street Zen raised Eastman Kodak from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Eastman Kodak Stock Performance

The company has a market capitalization of $863.36 million, a P/E ratio of -27.14 and a beta of 1.45. The company’s 50 day moving average is $7.52 and its 200-day moving average is $6.69. The company has a current ratio of 0.79, a quick ratio of 0.48 and a debt-to-equity ratio of 0.01.

Eastman Kodak (NYSE:KODK) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.08) earnings per share for the quarter. Eastman Kodak had a return on equity of 1.72% and a net margin of 0.57%.The business had revenue of $269.00 million during the quarter.

Insider Buying and Selling

In related news, Director Philippe D. Katz purchased 5,000 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average price of $7.35 per share, with a total value of $36,750.00. Following the transaction, the director directly owned 185,026 shares in the company, valued at $1,359,941.10. This trade represents a 2.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Roger W. Byrd sold 19,744 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $8.00, for a total transaction of $157,952.00. Following the completion of the transaction, the senior vice president owned 59,266 shares in the company, valued at approximately $474,128. The trade was a 24.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 23.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KODK. Marshall Wace LLP grew its holdings in shares of Eastman Kodak by 50.6% during the second quarter. Marshall Wace LLP now owns 2,711,241 shares of the technology company’s stock valued at $15,319,000 after buying an additional 910,644 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Eastman Kodak by 34,542.8% during the 1st quarter. Russell Investments Group Ltd. now owns 272,639 shares of the technology company’s stock valued at $1,723,000 after purchasing an additional 271,852 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in Eastman Kodak during the 2nd quarter valued at $1,526,000. Two Sigma Investments LP increased its holdings in shares of Eastman Kodak by 199.6% in the 3rd quarter. Two Sigma Investments LP now owns 403,162 shares of the technology company’s stock worth $2,584,000 after purchasing an additional 268,603 shares in the last quarter. Finally, Tenzing Global Management LLC purchased a new position in shares of Eastman Kodak in the first quarter worth $1,580,000. 33.65% of the stock is owned by hedge funds and other institutional investors.

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.