The stock of Eastman Kodak Company (NYSE:KODK) is now priced at $5.98 and the shares are -0.04 points down or -0.66% lower compared to its previous closing price of $6.02. The stock had 9.115 million contracts set over the past session. KODK shares’ daily volume is compared to its average trading volume at 19.351 million shares. However, it has a float of 61.17 million and although its performance was -14.57% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the KODK share price recently placing at $5.85 to $6.37. However, some brokerage firms have priced the stock below the average, including one that has called $1.
The shorts are running away from the Eastman Kodak Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the KODK shares have declined. Short interest in the stock represents just 20.34% of its float, but the volume has dropped by 0.
In the last trading session, Eastman Kodak Company (NYSE:KODK) dropped by -$1.02 over the week and lost -$8.96 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $60. The stock recorded its established 52-week high on 07/29/20.
Since 03/23/20, the stock has traded to a low of $1.5 at 298.67%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 5.92. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Eastman Kodak Company’s two-week RSI is 42.55. This suggests that the stock is neutral at the moment and that KODK shares’ price movement remains stable. The stochastic readings are equally revealing at 3.49% meaning the KODK share price is currently in overbought territory.
The technical chart shows that the KODK stock will likely settle at between $6.28 and $6.59 per share. However, if the stock dips below $5.76, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.55.
Currently, the stock is trading in the red of MACD, with a reading of -0.68. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
The stocks P/S ratio currently stands below the group’s average of 109.5. Eastman Kodak Company has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 4.7 industry average.