Eastman Kodak (NYSE:KODK) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Eastman Kodak Company (NYSE:KODK) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.01 and traded as low as $6.92. Eastman Kodak shares last traded at $7.2250, with a volume of 1,201,168 shares traded.

Analysts Set New Price Targets

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

Eastman Kodak Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.79 and a quick ratio of 0.48. The firm has a market cap of $696.49 million, a price-to-earnings ratio of -21.89 and a beta of 1.44. The stock has a 50-day moving average price of $8.05 and a 200 day moving average price of $7.01.

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

Insider Buying and Selling

In related news, SVP Roger W. Byrd sold 19,744 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $8.00, for a total transaction of $157,952.00. Following the completion of the sale, the senior vice president owned 59,266 shares in the company, valued at $474,128. This represents a 24.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philippe D. Katz acquired 5,000 shares of the stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $7.35 per share, for a total transaction of $36,750.00. Following the completion of the transaction, the director directly owned 185,026 shares in the company, valued at $1,359,941.10. The trade was a 2.78% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 23.87% of the company’s stock.

Hedge Funds Weigh In On Eastman Kodak

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in Eastman Kodak by 8.1% in the 1st quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company’s stock valued at $1,108,000 after acquiring an additional 13,129 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Eastman Kodak by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company’s stock valued at $227,000 after purchasing an additional 1,566 shares during the period. Empowered Funds LLC raised its stake in shares of Eastman Kodak by 4.2% during the first quarter. Empowered Funds LLC now owns 435,379 shares of the technology company’s stock worth $2,752,000 after purchasing an additional 17,621 shares during the last quarter. Triasima Portfolio Management inc. lifted its holdings in shares of Eastman Kodak by 91.7% during the second quarter. Triasima Portfolio Management inc. now owns 48,995 shares of the technology company’s stock worth $277,000 after purchasing an additional 23,440 shares during the period. Finally, Corton Capital Inc. purchased a new position in Eastman Kodak in the 2nd quarter valued at $108,000. 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.