Eastman Kodak (NYSE:KODK) Shares Gap Down – Should You Sell?

Eastman Kodak Company (NYSE:KODK)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $8.67, but opened at $7.50. Eastman Kodak shares last traded at $8.0970, with a volume of 244,859 shares.

Analyst Upgrades and Downgrades

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

Eastman Kodak Price Performance

The stock has a market capitalization of $750.38 million, a P/E ratio of -5.51, a PEG ratio of 0.61 and a beta of 1.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.91. The business has a fifty day simple moving average of $9.32 and a 200-day simple moving average of $9.23.

Eastman Kodak (NYSE:KODK) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The company had revenue of $276.00 million during the quarter, compared to analyst estimates of $294.00 million. Sell-side analysts expect that Eastman Kodak Company will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eastman Kodak

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Eastman Kodak during the third quarter valued at about $102,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Eastman Kodak in the 3rd quarter worth about $777,000. State of Alaska Department of Revenue bought a new position in Eastman Kodak in the 3rd quarter valued at about $52,000. State Street Corp boosted its stake in Eastman Kodak by 16.2% during the 2nd quarter. State Street Corp now owns 2,345,933 shares of the technology company’s stock valued at $21,700,000 after purchasing an additional 326,398 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Eastman Kodak during the 2nd quarter worth approximately $390,000. 33.65% of the stock is 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.