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

Eastman Kodak (NYSE:KODK)’s stock price 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 trading hands.

Analysts Set New Price Targets

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

Eastman Kodak Trading Up 7.9 %

The firm’s fifty day moving average price is $5.04 and its 200-day moving average price is $5.21. The company has a market cap of $574.06 million, a price-to-earnings ratio of 10.20 and a beta of 3.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.51.

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

Hedge Funds Weigh In On Eastman Kodak

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Eastman Kodak during the 3rd quarter worth $25,000. Gladius Capital Management LP bought a new position in Eastman Kodak in the 2nd quarter valued at about $33,000. BNP Paribas Financial Markets increased its stake in Eastman Kodak by 21.3% during the 3rd 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 during the period. CWM LLC increased its stake in Eastman Kodak by 128.4% during the 2nd quarter. CWM LLC now owns 11,410 shares of the technology company’s stock valued at $61,000 after buying an additional 6,415 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Eastman Kodak during the 3rd quarter worth about $62,000. 33.65% of the stock is owned by institutional investors.

Eastman Kodak Company Profile

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.