Eastman Kodak (NYSE:KODK) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Eastman Kodak Company (NYSE:KODK) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.39 and traded as high as $9.49. Eastman Kodak shares last traded at $9.4550, with a volume of 459,604 shares traded.

Analyst Upgrades and Downgrades

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

Eastman Kodak Stock Up 1.2%

The business’s fifty day simple moving average is $9.39 and its 200-day simple moving average is $9.20.

Eastman Kodak (NYSE:KODK) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.13 EPS for the quarter. The company had revenue of $311.00 million for the quarter. On average, equities research analysts predict that Eastman Kodak Company will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Eastman Kodak

Several institutional investors have recently added to or reduced their stakes in KODK. State Street Corp boosted its position in shares of Eastman Kodak by 16.2% during the 2nd quarter. State Street Corp now owns 2,345,933 shares of the technology company’s stock valued at $21,700,000 after acquiring an additional 326,398 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Eastman Kodak by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company’s stock worth $19,707,000 after purchasing an additional 113,398 shares during the last quarter. Empowered Funds LLC increased its position in Eastman Kodak by 1.1% in the second quarter. Empowered Funds LLC now owns 393,092 shares of the technology company’s stock worth $3,636,000 after purchasing an additional 4,176 shares during the last quarter. Bank of America Corp DE increased its position in Eastman Kodak by 438.9% in the first quarter. Bank of America Corp DE now owns 331,883 shares of the technology company’s stock worth $3,004,000 after purchasing an additional 270,297 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Eastman Kodak by 0.6% during the first quarter. First Trust Advisors LP now owns 224,077 shares of the technology company’s stock valued at $2,028,000 after purchasing an additional 1,294 shares in the last quarter. Hedge funds and other institutional investors own 33.65% of the company’s stock.

About Eastman Kodak

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.