Eastman Kodak (NYSE:KODK) Sees Significant Drop in Short Interest

Eastman Kodak (NYSE:KODK) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 3,044,000 shares, a decline of 16.8% from the June 30th total of 3,658,900 shares. Based on an average trading volume of 195,800 shares, the days-to-cover ratio is currently 15.5 days. Currently, 9.0% of the company’s stock are short sold.

Shares of KODK traded up $0.07 during mid-day trading on Thursday, reaching $2.07. The company had a trading volume of 247,119 shares, compared to its average volume of 222,992. The firm has a 50-day moving average price of $2.41 and a 200 day moving average price of $2.65. Eastman Kodak has a 52 week low of $1.87 and a 52 week high of $4.44. The company has a market capitalization of $81.70 million, a price-to-earnings ratio of 6.39 and a beta of 2.34.

Eastman Kodak (NYSE:KODK) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.25) EPS for the quarter. Eastman Kodak had a return on equity of 145.46% and a net margin of 15.25%. The company had revenue of $307.00 million during the quarter.

Separately, ValuEngine raised Eastman Kodak from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th.

In other news, Chairman James V. Continenza acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $2.12 per share, with a total value of $42,400.00. Following the transaction, the chairman now owns 20,000 shares in the company, valued at approximately $42,400. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James V. Continenza acquired 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $2.05 per share, for a total transaction of $205,000.00. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $41,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 163,250 shares of company stock worth $337,188. Insiders own 18.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC boosted its position in shares of Eastman Kodak by 4.0% in the 1st quarter. First Eagle Investment Management LLC now owns 1,361,118 shares of the technology company’s stock worth $4,029,000 after purchasing an additional 51,900 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Eastman Kodak by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 322,441 shares of the technology company’s stock worth $822,000 after purchasing an additional 8,941 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of Eastman Kodak by 29.4% in the 1st quarter. Spark Investment Management LLC now owns 206,700 shares of the technology company’s stock worth $611,000 after purchasing an additional 47,000 shares in the last quarter. Morgan Stanley boosted its position in shares of Eastman Kodak by 117.1% in the 2nd quarter. Morgan Stanley now owns 131,806 shares of the technology company’s stock worth $316,000 after purchasing an additional 71,083 shares in the last quarter. Finally, Quinn Opportunity Partners LLC bought a new stake in shares of Eastman Kodak in the 2nd quarter worth approximately $196,000. 57.03% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Kodak Company Profile

Eastman Kodak Company provides hardware, software, consumables, and services to customers in the graphic arts, commercial print, publishing, electronic displays, entertainment and commercial films, and consumer products markets worldwide. The company operates in six segments: Print Systems, Enterprise Inkjet Systems, Software and Solutions, Consumer and Film, Advanced Materials and 3D Printing Technology, and Eastman Business Park.

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