Eastman Kodak (NYSE:KODK) Shares Down 7.7% – Here’s What Happened

Eastman Kodak Company (NYSE:KODK) fell 7.7% during mid-day trading on Monday . The company traded as low as $8.82 and last traded at $8.7340. 376,200 shares traded hands during trading, a decline of 57% from the average session volume of 875,462 shares. The stock had previously closed at $9.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eastman Kodak in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Eastman Kodak Price Performance

The company has a market cap of $850.69 million, a price-to-earnings ratio of -4.88 and a beta of 1.49. The company has a 50-day simple moving average of $7.52 and a 200-day simple moving average of $7.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.32 and a current ratio of 3.14.

Eastman Kodak (NYSE:KODK) last posted its quarterly earnings results on Thursday, March 12th. The technology company reported ($1.23) earnings per share for the quarter. Eastman Kodak had a negative net margin of 11.97% and a negative return on equity of 19.99%. The business had revenue of $290.00 million during the quarter.

Institutional Investors Weigh In On Eastman Kodak

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Eastman Kodak by 8.1% during the first quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company’s stock worth $1,108,000 after purchasing an additional 13,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Eastman Kodak by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company’s stock valued at $227,000 after buying an additional 1,566 shares during the period. Empowered Funds LLC grew its holdings in Eastman Kodak by 4.2% in the 1st quarter. Empowered Funds LLC now owns 435,379 shares of the technology company’s stock valued at $2,752,000 after buying an additional 17,621 shares during the period. Geode Capital Management LLC increased its stake in shares of Eastman Kodak by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,636,651 shares of the technology company’s stock valued at $9,249,000 after acquiring an additional 53,959 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Eastman Kodak by 3.4% during the 2nd quarter. Creative Planning now owns 52,090 shares of the technology company’s stock worth $294,000 after acquiring an additional 1,726 shares during the period. 33.65% of the stock is currently owned by hedge funds and other institutional investors.

About Eastman Kodak

Eastman Kodak Company (NYSE: KODK) is a global technology firm specializing in imaging, printing and advanced materials. The company offers a wide array of products and services that enable customers to create, manage and share visual content across traditional and digital platforms. Its core offerings include graphic communications solutions, enterprise inkjet systems, packaging technologies, functional printing and micro 3D printing systems.

Kodak’s graphic communications segment serves commercial printers, packaging converters and publishing houses with offset plates, digital presses, workflow software and services designed to streamline production.