Insider Buying: Eightco (NASDAQ:ORBS) CEO Purchases $184,000.00 in Stock

Eightco Holdings Inc. (NASDAQ:ORBS) CEO Kevin O’donnell acquired 200,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $0.92 per share, for a total transaction of $184,000.00. Following the completion of the transaction, the chief executive officer owned 1,246,485 shares of the company’s stock, valued at approximately $1,146,766.20. This trade represents a 19.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eightco Price Performance

Shares of ORBS stock opened at $1.03 on Thursday. Eightco Holdings Inc. has a 1 year low of $0.72 and a 1 year high of $83.12. The stock’s 50 day simple moving average is $0.92 and its two-hundred day simple moving average is $1.33. The company has a market cap of $399.65 million, a PE ratio of -1.75 and a beta of 2.03.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ORBS shares. Wall Street Zen upgraded Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Eightco in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Caerus Investment Advisors LLC bought a new position in shares of Eightco during the first quarter valued at approximately $29,000. OMERS ADMINISTRATION Corp grew its stake in shares of Eightco by 187.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 158,800 shares of the company’s stock valued at $148,000 after buying an additional 103,600 shares during the last quarter. Yorkville Advisors Global LP bought a new position in shares of Eightco during the first quarter valued at approximately $27,000. Chicago Partners Investment Group LLC bought a new position in shares of Eightco during the first quarter valued at approximately $34,000. Finally, Krilogy Financial LLC bought a new position in shares of Eightco during the first quarter valued at approximately $33,000. Institutional investors own 12.85% of the company’s stock.

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.