Eightco (NASDAQ:ORBS) CEO Kevin O’donnell Purchases 50,000 Shares of Stock

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell bought 50,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was purchased at an average price of $0.81 per share, with a total value of $40,500.00. Following 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Eightco Stock Performance

Shares of ORBS traded down $0.01 during mid-day trading on Monday, reaching $0.80. 1,655,541 shares of the company’s stock traded hands, compared to its average volume of 17,630,141. The business’s 50-day moving average price is $0.71 and its 200-day moving average price is $0.89. The stock has a market capitalization of $343.39 million, a P/E ratio of -3.63 and a beta of 2.09. Eightco Holdings Inc. has a 12 month low of $0.57 and a 12 month high of $83.12.

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

Institutional Trading of Eightco

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

Wall Street Analyst Weigh In

ORBS has been the subject of a number of research reports. Wall Street Zen upgraded shares of Eightco from a “strong sell” rating to a “sell” rating in a 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, Based on data from MarketBeat, Eightco presently has an average rating of “Sell”.

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.