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

Eastman Kodak Company (NYSE:KODK)’s share price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

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

Eastman Kodak Trading Down 11.6%

The business’s 50 day moving average price is $9.32 and its two-hundred day moving average price is $9.23. The company has a current ratio of 2.91, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $750.38 million, a price-to-earnings ratio of -5.51, a P/E/G ratio of 0.61 and a beta of 1.64.

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

Institutional Investors Weigh In On Eastman Kodak

A number of hedge funds and other institutional investors have recently bought and sold shares of KODK. First Trust Advisors LP lifted its holdings in shares of Eastman Kodak by 0.6% during the first quarter. First Trust Advisors LP now owns 224,077 shares of the technology company’s stock worth $2,028,000 after purchasing an additional 1,294 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Eastman Kodak by 13.7% in the first quarter. The Manufacturers Life Insurance Company now owns 17,672 shares of the technology company’s stock valued at $160,000 after purchasing an additional 2,124 shares during the period. Empowered Funds LLC increased its holdings in Eastman Kodak by 1.1% in the second quarter. Empowered Funds LLC now owns 393,092 shares of the technology company’s stock valued at $3,636,000 after purchasing an additional 4,176 shares during the period. Bank of Nova Scotia raised its position in Eastman Kodak by 30.1% during the 1st quarter. Bank of Nova Scotia now owns 18,495 shares of the technology company’s stock worth $167,000 after purchasing an additional 4,282 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Eastman Kodak during the 3rd quarter worth $52,000. Institutional investors own 33.65% of the company’s stock.

Eastman Kodak Company Profile

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.