Eightco Sees Unusually High Options Volume (NASDAQ:ORBS)

Eightco Holdings Inc. (NASDAQ:ORBS) saw unusually large options trading activity on Thursday. Stock traders purchased 15,304 put options on the stock. This is an increase of approximately 51% compared to the average daily volume of 10,166 put options.

Institutional Investors Weigh In On Eightco

Several large investors have recently made changes to their positions in ORBS. PEAK6 LLC acquired a new stake in Eightco during the 4th quarter valued at $26,000. LPL Financial LLC acquired a new stake in Eightco during the 4th quarter valued at $28,000. Monograph Wealth Advisors LLC acquired a new stake in Eightco during the 4th quarter valued at $33,000. Barclays PLC acquired a new stake in Eightco during the 4th quarter valued at $33,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Eightco during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Eightco Stock Down 3.7%

Eightco stock opened at $0.93 on Friday. Eightco has a 52-week low of $0.72 and a 52-week high of $83.12. The stock has a fifty day simple moving average of $0.93. The firm has a market capitalization of $359.42 million, a price-to-earnings ratio of -1.57 and a beta of 1.98.

Eightco (NASDAQ:ORBS) last released its quarterly earnings data on Wednesday, April 15th. The company reported ($2.39) earnings per share (EPS) for the quarter. Eightco had a negative return on equity of 111.48% and a negative net margin of 1,095.69%.The business had revenue of $10.19 million during the quarter.

About Eightco

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.