Where Is Kodak Stock Headed In 2021?

Eastman Kodak Company (KODK - Get Rating) is a Rochester, New York-based global technology company that provides hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, entertainment and commercial films, and consumer products markets worldwide. The company is focused primarily on print and advanced materials and chemicals and operates in six segments – Print Systems; Enterprise Inkjet Systems; Kodak Software; Brand, Film, and Imaging; Advanced Materials and 3D Printing Technology; and Eastman Business Park.

KODK – The century-old camera company Eastman Kodak (KODK) has drawn much attention this year after languishing in a downtrend for years due to its weak fundamentals and poor prospects. The stock made a revival in July after the company struck a loan deal with the government to set up its pharma business. However, the stock soon lost momentum after KODK was hit with allegations of insider trading for which it is still under an SEC probe. Read ahead to find if the troubled stock is heading for a turnaround in 2021.

KODK has been deeply affected by the COVID-19 pandemic and has lost business and revenues consistently this year. For instance, for the third quarter ended September 30, 2020, KODK’s revenue fell $39 million sequentially to $252 million, while its net loss increased to $445 million from the quarter-ago loss of $5 million. Year-to-date, the company has burned close to $40 million in cash and ended the quarter with $193 million in cash.

Its poor financial health and the potential downside based on several factors have made our proprietary system to rate KODK as a “Sell.”

Trade Grade: D

KODK is currently trading higher than its 50-day and 200-day moving averages of $199.68 and $142.02, respectively, which indicates that  the stock is in an uptrend. However, the stock’s 25.4% loss over the past three weeks reflects a short-term bearishness.

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