Eastman Kodak (NYSE:KODK) Shares Down 6.4% – Here’s What Happened

Shares of Eastman Kodak (NYSE:KODK) traded down 6.4% on Tuesday . The company traded as low as $6.75 and last traded at $6.76. 478,167 shares changed hands during trading, a decline of 47% from the average session volume of 905,096 shares. The stock had previously closed at $7.22.

Analyst Ratings Changes

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

Eastman Kodak Stock Performance

The company’s fifty day simple moving average is $5.13 and its 200 day simple moving average is $5.25. The stock has a market capitalization of $537.07 million, a P/E ratio of 9.66 and a beta of 3.73. 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 posted its earnings results on Tuesday, November 12th. The technology company reported $0.15 EPS for the quarter. The business had revenue of $261.00 million during the quarter. Eastman Kodak had a return on equity of 8.47% and a net margin of 7.70%.

Institutional Investors Weigh In On Eastman Kodak

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in Eastman Kodak during the third quarter worth about $635,000. American Century Companies Inc. boosted its stake in shares of Eastman Kodak by 77.9% in the 2nd quarter. American Century Companies Inc. now owns 715,264 shares of the technology company’s stock valued at $3,848,000 after purchasing an additional 313,191 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Eastman Kodak during the 2nd quarter valued at $2,197,000. XTX Topco Ltd purchased a new position in Eastman Kodak in the 2nd quarter worth $190,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in Eastman Kodak by 59.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 218,669 shares of the technology company’s stock worth $1,176,000 after purchasing an additional 81,782 shares during the last quarter. 33.65% of the stock is owned by hedge funds and other institutional investors.

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.