Eightco (NASDAQ:ORBS) CEO Acquires $40,500.00 in Stock

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell acquired 50,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $0.81 per share, with a total value of $40,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,296,485 shares in the company, valued at approximately $1,050,152.85. This represents a 4.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Eightco Stock Performance

ORBS opened at $0.84 on Thursday. The firm has a market cap of $359.98 million, a P/E ratio of -3.81 and a beta of 2.13. Eightco Holdings Inc. has a 52-week low of $0.57 and a 52-week high of $83.12. The business’s fifty day moving average is $0.70 and its 200-day moving average is $0.88.

Eightco (NASDAQ:ORBS) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $2.07 million during the quarter. Eightco had a negative net margin of 1,260.96% and a negative return on equity of 78.14%.

Hedge Funds Weigh In On Eightco

A number of hedge funds have recently added to or reduced their stakes in ORBS. PEAK6 LLC purchased a new position in shares of Eightco during the fourth quarter valued at approximately $26,000. LPL Financial LLC purchased a new stake in Eightco during the fourth quarter worth about $28,000. Monograph Wealth Advisors LLC bought a new position in Eightco during the fourth quarter valued at $33,000. Barclays PLC purchased a new stake in Eightco in the 4th quarter worth about $33,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Eightco in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Eightco in a report on Tuesday, June 9th. Wall Street Zen raised Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average 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.