Eastman Kodak (NYSE:KODK) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Eastman Kodak Company (NYSE:KODK) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.44 and traded as high as $8.66. Eastman Kodak shares last traded at $8.5950, with a volume of 1,017,834 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Eastman Kodak in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Eastman Kodak currently has a consensus rating of “Sell”.

Eastman Kodak Stock Performance

The firm has a market cap of $838.01 million, a P/E ratio of -4.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.32 and a current ratio of 3.14. The business’s 50-day simple moving average is $7.44 and its 200 day simple moving average is $7.35.

Eastman Kodak (NYSE:KODK) last released its quarterly earnings results on Thursday, March 12th. The technology company reported ($1.23) earnings per share for the quarter. The firm had revenue of $290.00 million for the quarter. Eastman Kodak had a negative net margin of 11.97% and a negative return on equity of 19.99%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in Eastman Kodak by 8.1% in the first quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company’s stock worth $1,108,000 after purchasing an additional 13,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 during the last quarter. Empowered Funds LLC lifted its stake in shares of Eastman Kodak by 4.2% in the 1st 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 period. Geode Capital Management LLC lifted its stake in shares of Eastman Kodak by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,636,651 shares of the technology company’s stock worth $9,249,000 after purchasing an additional 53,959 shares during the period. Finally, Creative Planning boosted its holdings in shares of Eastman Kodak by 3.4% in the second quarter. Creative Planning now owns 52,090 shares of the technology company’s stock worth $294,000 after buying an additional 1,726 shares during the last quarter. 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.