Eightco (NASDAQ:ORBS) Shares Gap Up – Should You Buy?

by · The Markets Daily

Shares of Eightco Holdings Inc. (NASDAQ:ORBS – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $0.9036, but opened at $0.9859. Eightco shares last traded at $1.1650, with a volume of 19,217,456 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on ORBS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Eightco in a research report on Friday. Wall Street Zen upgraded shares of Eightco from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Get Our Latest Research Report on Eightco

Eightco Stock Performance

The company has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.87. The stock has a market capitalization of $500.69 million, a price-to-earnings ratio of -5.30 and a beta of 2.13.

Eightco (NASDAQ:ORBS – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter. Eightco had a negative return on equity of 78.14% and a negative net margin of 1,260.96%.The company had revenue of $2.07 million during the quarter.

Insider Activity

In other news, CEO Kevin O’Donnell acquired 200,000 shares of Eightco stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $0.92 per share, with a total value of $184,000.00. Following the purchase, the chief executive officer owned 1,246,485 shares in the company, valued at $1,146,766.20. This trade represents a 19.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.44% of the company’s stock.

Hedge Funds Weigh In On Eightco

Several hedge funds and other institutional investors have recently bought and sold shares of ORBS. PEAK6 LLC acquired a new position in Eightco in the fourth quarter valued at $26,000. LPL Financial LLC acquired a new stake in Eightco during the 4th quarter worth about $28,000. Monograph Wealth Advisors LLC bought a new position in shares of Eightco in the 4th quarter worth about $33,000. Barclays PLC bought a new position in shares of Eightco in the 4th quarter worth about $33,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Eightco in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

About Eightco

(Get Free Report)

Eightco Holdings Inc provides bitcoin mining equipment and co-location services. It also manufactures and sells container boards, corrugated products, and specialty paper products in North America. The company was incorporated in 1966 and is headquartered in Safety Harbor, Florida.

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