Eastman Kodak (NYSE:KODK) Shares Gap Up – Should You Buy?

Eastman Kodak Company (NYSE:KODK)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.85, but opened at $6.55. Eastman Kodak shares last traded at $7.1240, with a volume of 653,456 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Eastman Kodak in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Eastman Kodak Price Performance

The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 0.02. The stock has a market cap of $590.57 million, a PE ratio of -72.64 and a beta of 1.43. The company’s 50 day moving average is $6.29 and its 200-day moving average is $6.23.

Eastman Kodak (NYSE:KODK) last announced its earnings results on Thursday, November 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter. Eastman Kodak had a return on equity of 2.32% and a net margin of 1.06%.The business had revenue of $269.00 million for the quarter.

Insider Transactions at Eastman Kodak

In related news, Director Philippe D. Katz purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $5.67 per share, with a total value of $56,700.00. Following the acquisition, the director owned 180,026 shares in the company, valued at approximately $1,020,747.42. This trade represents a 5.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James V. Continenza bought 50,000 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was bought at an average price of $5.74 per share, for a total transaction of $287,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,902,011 shares of the company’s stock, valued at $10,917,543.14. The trade was a 2.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 23.87% of the company’s stock.

Hedge Funds Weigh In On Eastman Kodak

A number of hedge funds have recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in Eastman Kodak in the 1st quarter worth about $27,000. BNP Paribas Financial Markets lifted its stake in Eastman Kodak by 78.2% in the second quarter. BNP Paribas Financial Markets now owns 6,207 shares of the technology company’s stock valued at $35,000 after acquiring an additional 2,723 shares during the last quarter. Byrne Asset Management LLC bought a new stake in Eastman Kodak in the second quarter worth approximately $39,000. Headlands Technologies LLC acquired a new stake in shares of Eastman Kodak in the second quarter worth $45,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Eastman Kodak by 239.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,075 shares of the technology company’s stock worth $46,000 after buying an additional 5,698 shares during the period. 33.65% of the stock is currently owned by institutional investors and hedge funds.

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.