Eastman Kodak's stock is experiencing an uptick today, likely influenced by recent developments surrounding the company's operations and investor activity. The company has temporarily halted film production at its Rochester, New York factory to modernize and upgrade its facilities. This move is part of Kodak's strategy to meet the rising demand for film products, which have seen a resurgence in popularity. Despite the production pause, Kodak has assured that there will be no immediate supply issues, as they have built up sufficient inventory to cover the temporary shutdown.
Additionally, institutional interest in Kodak appears to be growing. Victory Capital Management Inc. recently acquired a new stake in the company, purchasing 134,569 shares valued at approximately $635,000. This acquisition, along with other institutional investments, may be contributing to positive sentiment around the stock.
Eastman Kodak's stock is currently trading at $7.25, reflecting a 1.61% increase from its previous close of $7.14 and a 1.75% rise from its opening price of $7.13.