Eightco (NASDAQ:ORBS) Shares Down 10.3% – Time to Sell?

Shares of Eightco Holdings Inc. (NASDAQ:ORBS) dropped 10.3% on Wednesday . The stock traded as low as $2.53 and last traded at $2.53. Approximately 447,181 shares changed hands during trading, a decline of 80% from the average daily volume of 2,284,132 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

A number of equities analysts have commented on ORBS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eightco in a research note on Tuesday. Wall Street Zen cut Eightco from a “hold” rating to a “sell” rating in a research note on Friday, November 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Eightco Price Performance

The firm has a market cap of $506.44 million, a PE ratio of -1.82 and a beta of 2.24.

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

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.