Eastman Kodak (NYSE:KODK) Stock Price Passes Below Fifty Day Moving Average of $2.40

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Shares of Eastman Kodak (NYSE:KODK) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.40 and traded as low as $2.58. Eastman Kodak shares last traded at $2.60, with a volume of 6,775 shares traded.

Separately, ValuEngine lowered shares of Eastman Kodak from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

The firm’s 50-day simple moving average is $2.40 and its 200 day simple moving average is $2.57. The company has a quick ratio of 1.25, a current ratio of 1.91 and a debt-to-equity ratio of 0.72. The firm has a market cap of $113.09 million, a P/E ratio of 8.15 and a beta of 2.32.

Eastman Kodak (NYSE:KODK) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.25) earnings per share (EPS) for the quarter. The business had revenue of $307.00 million during the quarter. Eastman Kodak had a net margin of 14.77% and a negative return on equity of 10.99%.

In related news, Chairman James V. Continenza purchased 20,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $2.12 per share, with a total value of $42,400.00. Following the purchase, the chairman now directly owns 20,000 shares in the company, valued at $42,400. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James V. Continenza purchased 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $2.05 per share, with a total value of $205,000.00. Following the purchase, the insider now owns 20,000 shares in the company, valued at $41,000. The disclosure for this purchase can be found here. In the last three months, insiders acquired 163,250 shares of company stock valued at $337,188. Corporate insiders own 19.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its holdings in Eastman Kodak by 37.4% during the 2nd quarter. ARK Investment Management LLC now owns 20,712 shares of the technology company’s stock valued at $50,000 after buying an additional 5,643 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV bought a new position in Eastman Kodak in the 2nd quarter worth $59,000. Eidelman Virant Capital bought a new position in Eastman Kodak in the 2nd quarter worth $72,000. Spark Investment Management LLC raised its holdings in Eastman Kodak by 29.4% in the 1st quarter. Spark Investment Management LLC now owns 206,700 shares of the technology company’s stock worth $611,000 after purchasing an additional 47,000 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Eastman Kodak by 4.0% in the 1st quarter. First Eagle Investment Management LLC now owns 1,361,118 shares of the technology company’s stock worth $4,029,000 after purchasing an additional 51,900 shares in the last quarter. 50.40% of the stock is owned by institutional investors and hedge funds.

Eastman Kodak Company Profile (NYSE:KODK)

Eastman Kodak Company provides hardware, software, consumables, and services to customers in the graphic arts, commercial print, publishing, electronic displays, entertainment and commercial films, and consumer products markets worldwide. The company operates in six segments: Print Systems, Enterprise Inkjet Systems, Software and Solutions, Consumer and Film, Advanced Materials and 3D Printing Technology, and Eastman Business Park.

Further Reading: What is Cost of Goods Sold (COGS)?

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