A federal agency found no wrongdoing on the part of Eastman Kodak relating to a loan to make drug ingredients , The Wall Street Journal reported on Sunday.
Shares of Kodak jumped nearly +60% in premarket trading Monday on the report.
The inspector general for the U.S. International Development Finance Corp. (DFC), which was administering the loan, told Democratic lawmakers he found no evidence that agency officials had any conflicts of interest in the plan.
In July, Kodak announced that it would receive a $765 million loan to help produce pharmaceutical ingredients for potential Covid-19 treatments. The process was halted after Democratic lawmakers expressed concerns about a possible insider trading around the time the announcement was made.
Now, it is still unclear whether the agency will process the loan.
The Moving Average Convergence Divergence (MACD) for KODK turned positive on May 06, 2024. Looking at past instances where KODK's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
The 50-day moving average for KODK moved above the 200-day moving average on April 08, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where KODK advanced for three days, in of 245 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
The Momentum Indicator moved below the 0 level on May 07, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on KODK as a result. In of 84 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
KODK moved below its 50-day moving average on May 07, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for KODK crossed bearishly below the 50-day moving average on April 25, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where KODK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
KODK broke above its upper Bollinger Band on April 04, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for KODK entered a downward trend on May 06, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. KODK’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.416) is normal, around the industry mean (75.284). P/E Ratio (7.239) is within average values for comparable stocks, (82.572). KODK's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (1.702). Dividend Yield (0.000) settles around the average of (0.054) among similar stocks. P/S Ratio (0.393) is also within normal values, averaging (33.440).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. KODK’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of imaging products, including photographic film and digital cameras
Industry MiscellaneousCommercialServices