Eightco (NASDAQ:ORBS) CEO Kevin O’donnell Acquires 50,000 Shares

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $0.81 per share, for a total transaction of $40,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,296,485 shares in the company, valued at $1,050,152.85. This represents a 4.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Eightco Price Performance

NASDAQ ORBS opened at $0.77 on Tuesday. Eightco Holdings Inc. has a 1 year low of $0.57 and a 1 year high of $83.12. The company has a market capitalization of $329.04 million, a PE ratio of -3.48 and a beta of 2.09. The company has a fifty day moving average of $0.70 and a two-hundred day moving average of $0.88.

Eightco (NASDAQ:ORBS) 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 for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mozayyx Management LLC acquired a new stake in shares of Eightco during the fourth quarter worth about $28,438,000. UBS Group AG acquired a new position in Eightco in the 4th quarter valued at about $4,528,000. Occam Crest Management LP purchased a new stake in Eightco during the 4th quarter valued at approximately $3,081,000. Aristides Capital LLC purchased a new stake in Eightco during the 4th quarter valued at approximately $136,000. Finally, Avior Wealth Management LLC purchased a new stake in Eightco during the 2nd quarter valued at approximately $77,000. 12.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ORBS. Wall Street Zen raised Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Eightco in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Eightco Company Profile

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.