Eightco (NASDAQ:ORBS) Shares Gap Down – Here’s Why

by · The Cerbat Gem

Eightco Holdings Inc. (NASDAQ:ORBS – Get Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $2.90, but opened at $2.77. Eightco shares last traded at $2.73, with a volume of 723,260 shares traded.

Wall Street Analyst Weigh In

ORBS has been the subject of a number of research reports. Wall Street Zen cut Eightco from a “hold” rating to a “sell” rating in a report on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eightco in a research report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Read Our Latest Research Report on ORBS

Eightco Price Performance

The stock has a market cap of $563.82 million, a price-to-earnings ratio of -2.02 and a beta of 2.24.

Eightco (NASDAQ:ORBS – Get Free Report) last posted its earnings results on Friday, November 14th. The company reported ($0.58) EPS for the quarter. Eightco had a negative return on equity of 14.76% and a negative net margin of 74.37%.The company had revenue of $5.30 million during the quarter.

Eightco Company Profile

(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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