Eastman Kodak (NYSE:KODK) Shares Gap Down – Here’s Why

Eastman Kodak Company (NYSE:KODK)’s share price gapped down before the market opened on Friday . The stock had previously closed at $14.15, but opened at $11.60. Eastman Kodak shares last traded at $11.0540, with a volume of 785,606 shares changing hands.

Wall Street Analyst Weigh In

KODK has been the subject of a number of research analyst reports. Weiss Ratings lowered Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded Eastman Kodak from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Eastman Kodak currently has an average rating of “Sell”.

Eastman Kodak Trading Down 21.9%

The stock has a market cap of $1.08 billion, a PE ratio of -6.18 and a beta of 1.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.14 and a quick ratio of 2.32. The stock has a 50-day moving average price of $10.09 and a two-hundred day moving average price of $8.52.

Eastman Kodak (NYSE:KODK) last released its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.21) EPS for the quarter. The company had revenue of $265.00 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in KODK. Marshall Wace LLP grew its position in Eastman Kodak by 32.8% in the fourth quarter. Marshall Wace LLP now owns 3,817,610 shares of the technology company’s stock worth $32,297,000 after acquiring an additional 942,413 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Eastman Kodak by 225.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 830,732 shares of the technology company’s stock worth $7,028,000 after acquiring an additional 575,733 shares in the last quarter. Vanguard Group Inc. grew its position in Eastman Kodak by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 5,712,683 shares of the technology company’s stock worth $48,329,000 after acquiring an additional 514,558 shares in the last quarter. Two Sigma Investments LP grew its position in Eastman Kodak by 199.6% in the third quarter. Two Sigma Investments LP now owns 403,162 shares of the technology company’s stock worth $2,584,000 after acquiring an additional 268,603 shares in the last quarter. Finally, Millennium Management LLC grew its position in Eastman Kodak by 97.2% in the fourth quarter. Millennium Management LLC now owns 536,957 shares of the technology company’s stock worth $4,543,000 after acquiring an additional 264,629 shares in the last quarter. Hedge funds and other 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.