Eastman Kodak (NYSE:KODK) Shares Gap Up – Here’s Why

Eastman Kodak (NYSE:KODK) gapped up before the market opened on Wednesday . The stock had previously closed at $6.62, but opened at $7.32. Eastman Kodak shares last traded at $7.24, with a volume of 2,549,768 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Eastman Kodak from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th.

Eastman Kodak Trading Up 9.4 %

The business has a 50 day moving average of $4.95 and a two-hundred day moving average of $5.18. The firm has a market cap of $582.10 million, a P/E ratio of 10.34 and a beta of 3.64. The company has a current ratio of 2.41, a quick ratio of 1.51 and a debt-to-equity ratio of 0.47.

Eastman Kodak (NYSE:KODK) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $0.15 EPS for the quarter. The firm had revenue of $261.00 million for the quarter. Eastman Kodak had a net margin of 7.70% and a return on equity of 8.47%.

Hedge Funds Weigh In On Eastman Kodak

Several institutional investors and hedge funds have recently made changes to their positions in KODK. Barclays PLC grew its stake in shares of Eastman Kodak by 277.6% in the third quarter. Barclays PLC now owns 79,094 shares of the technology company’s stock valued at $373,000 after acquiring an additional 58,150 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Eastman Kodak by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,671 shares of the technology company’s stock valued at $7,217,000 after purchasing an additional 57,487 shares during the period. State Street Corp grew its position in shares of Eastman Kodak by 1.1% during the 3rd quarter. State Street Corp now owns 1,956,101 shares of the technology company’s stock worth $9,233,000 after purchasing an additional 20,731 shares in the last quarter. Cobblestone Capital Advisors LLC NY bought a new position in shares of Eastman Kodak during the third quarter worth approximately $95,000. Finally, BNP Paribas Financial Markets raised its position in shares of Eastman Kodak by 21.3% in the third quarter. BNP Paribas Financial Markets now owns 12,607 shares of the technology company’s stock valued at $60,000 after buying an additional 2,210 shares in the last quarter. Institutional investors and hedge funds own 33.65% of the company’s stock.

About Eastman Kodak

Eastman Kodak Company engages in the provision of hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, and entertainment markets worldwide. The company operates through three segments: Print, Advanced Materials and Chemicals, and Brand.