Eastman Kodak (NYSE:KODK) Trading Down 7.4% – Here’s What Happened

Eastman Kodak Company (NYSE:KODK)’s stock price fell 7.4% during trading on Thursday . The company traded as low as $9.55 and last traded at $9.57. 1,054,272 shares changed hands during trading, a decline of 6% from the average session volume of 1,116,851 shares. The stock had previously closed at $10.33.

Analysts Set New Price Targets

Several research firms recently issued reports on KODK. Wall Street Zen upgraded Eastman Kodak from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Weiss Ratings lowered shares of Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Eastman Kodak Price Performance

The stock has a market capitalization of $927.00 million, a price-to-earnings ratio of -5.05 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.32 and a current ratio of 2.53. The company has a 50 day moving average of $10.35 and a 200 day moving average of $8.64.

Eastman Kodak (NYSE:KODK) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter. Eastman Kodak had a negative net margin of 12.60% and a negative return on equity of 21.13%. The company had revenue of $265.00 million during the quarter.

Hedge Funds Weigh In On Eastman Kodak

Several large investors have recently bought and sold shares of KODK. Denali Advisors LLC acquired a new stake in Eastman Kodak in the third quarter valued at $836,000. First Eagle Investment Management LLC raised its position in shares of Eastman Kodak by 45.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 734,433 shares of the technology company’s stock worth $4,708,000 after acquiring an additional 231,217 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Eastman Kodak by 38.6% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 374,345 shares of the technology company’s stock worth $2,400,000 after acquiring an additional 104,345 shares in the last quarter. AXQ Capital LP acquired a new position in Eastman Kodak in the third quarter valued at approximately $127,000. Finally, Krilogy Financial LLC acquired a new position in Eastman Kodak in the fourth quarter valued at approximately $342,000. Hedge funds and other institutional investors own 33.65% of the company’s stock.

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.