Key Points
- CEO Kevin O'Donnell purchased 50,000 Eightco shares at an average price of $0.81, investing $40,500 and increasing his ownership by 4.01% to 1,296,485 shares.
- Eightco reported quarterly revenue of $2.07 million and EPS of $0.04, but continued to post significant profitability challenges, including a negative net margin of 1,260.96% and negative return on equity of 78.14%.
- Shares opened at $0.77, while analysts maintain an overall “Sell” rating; institutional investors own 12.85% of the company.
Eightco Holdings Inc. (NASDAQ:ORBS - Get Free Report) CEO Kevin O'donnell acquired 50,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $0.81 per share, for a total transaction of $40,500.00. Following the completion of the transaction, the chief executive officer owned 1,296,485 shares in the company, valued at $1,050,152.85. The trade was a 4.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Eightco Stock Performance
Shares of ORBS opened at $0.77 on Tuesday. The stock has a market capitalization of $329.04 million, a P/E ratio of -3.48 and a beta of 2.09. The company's fifty day moving average is $0.70 and its two-hundred day moving average is $0.88. Eightco Holdings Inc. has a 1 year low of $0.57 and a 1 year high of $83.12.
Eightco (NASDAQ:ORBS - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.04 EPS for the quarter. Eightco had a negative net margin of 1,260.96% and a negative return on equity of 78.14%. The company had revenue of $2.07 million during the quarter.
Wall Street Analysts Forecast Growth
ORBS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Eightco from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Eightco in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eightco currently has an average rating of "Sell".
Get Our Latest Analysis on Eightco
Institutional Investors Weigh In On Eightco
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Eightco during the 4th quarter worth $153,000. UBS Group AG purchased a new position in shares of Eightco in the 4th quarter valued at about $4,528,000. Geode Capital Management LLC purchased a new position in shares of Eightco in the 4th quarter valued at about $3,036,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Eightco in the fourth quarter valued at about $35,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Eightco in the fourth quarter valued at about $1,171,000. Institutional investors and hedge funds own 12.85% of the company's stock.
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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