Eastman Kodak (NYSE:KODK) Trading Down 7.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

KODK has been the subject of several recent research reports. Weiss Ratings raised shares of Eastman Kodak from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Wall Street Zen lowered shares of Eastman Kodak from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Eastman Kodak Stock Up 2.2%

The firm’s 50-day moving average price is $10.46 and its 200-day moving average price is $8.66. The company has a market cap of $945.26 million, a price-to-earnings ratio of -5.15 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.53 and a quick ratio of 2.32.

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

Institutional Investors Weigh In On Eastman Kodak

A number of large investors have recently added to or reduced their stakes in KODK. AQR Capital Management LLC grew its holdings in Eastman Kodak by 8.1% during the 1st quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company’s stock valued at $1,108,000 after purchasing an additional 13,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Eastman Kodak by 4.5% during the 1st 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 in the last quarter. Empowered Funds LLC grew its holdings in Eastman Kodak by 4.2% during the 1st quarter. Empowered Funds LLC now owns 435,379 shares of the technology company’s stock valued at $2,752,000 after purchasing an additional 17,621 shares in the last quarter. Creative Planning grew its holdings in Eastman Kodak by 3.4% during the 2nd quarter. Creative Planning now owns 52,090 shares of the technology company’s stock valued at $294,000 after purchasing an additional 1,726 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Eastman Kodak by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 97,705 shares of the technology company’s stock valued at $552,000 after purchasing an additional 2,927 shares in the last quarter. 33.65% of the stock is owned by institutional investors and hedge funds.

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.