Eastman Kodak (NYSE:KODK) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Eastman Kodak Company (NYSE:KODK)’s share price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $9.39 and traded as high as $9.49. Eastman Kodak shares last traded at $9.4550, with a volume of 459,604 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on KODK shares. Wall Street Zen upgraded shares of Eastman Kodak from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Eastman Kodak from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Zacks Research upgraded Eastman Kodak to a “hold” rating in a research report on Thursday, September 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Eastman Kodak Trading Up 1.2%

The stock has a 50 day moving average of $9.39 and a 200-day moving average of $9.20.

Eastman Kodak (NYSE:KODK) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.13 EPS for the quarter. The business had revenue of $311.00 million during the quarter. On average, analysts anticipate that Eastman Kodak Company will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC purchased a new position in Eastman Kodak in the 3rd quarter worth about $777,000. State of Alaska Department of Revenue purchased a new stake in Eastman Kodak in the 3rd quarter valued at about $52,000. State Street Corp boosted its position in Eastman Kodak by 16.2% in the 2nd quarter. State Street Corp now owns 2,345,933 shares of the technology company’s stock valued at $21,700,000 after buying an additional 326,398 shares during the period. WINTON GROUP Ltd bought a new position in Eastman Kodak in the 2nd quarter worth about $390,000. Finally, Engineers Gate Manager LP bought a new position in Eastman Kodak in the 2nd quarter worth about $453,000. 33.65% of the stock is currently owned by institutional investors.

About Eastman Kodak

Eastman Kodak Company is a technology and manufacturing company based in Rochester, New York. It provides commercial printing, packaging, publishing and graphic communications solutions, including digital printing equipment, workflow software, consumables and related services. Kodak also develops advanced materials and chemical products used in specialized industrial and commercial applications.

The company serves customers in the commercial print, packaging, publishing, entertainment and manufacturing industries.